Buyers kept pushing the Compound market to the upside between September 3 and September 9 as the price increased by 8%.
The price of Compound was rising last from September 3 until September 9, giving enough reason to conclude that the market is. The volatility of COMP has been low throughout the reviewed period in correspondence with the price action. There has been a rise in the market capitalization of the asset during the period under review. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
The price action of Compound is in a stalemate due to low volatility during the observed period. The average volatility of COMP was as low as 1.41%, causing the dull price action. Despite the overall weak performance, the volatility of the coin had its highest point at 4.98%. The weakest volatility level of 1.41% on the asset's market was registered on September 8. Since the crypto coin is displaying low levels of volatility, the price action is likely to remain feeble.
On September 3, the first trading session of the reviewed time period, the market participants saw COMP moving up by 4%. On September 4, the price of the coin has shifted by 1% from the daily open on the back of a good trading volume. During the next trading day, the rate of change in the price of Compound stood at 2% having reached the low at $46.9 and the high at $48.84 as the advantage remained on the side of sellers. The next trading session was characterized by more price action (as COMP made a 4% move) on the back of the consistent trading volume. The developments on the Compound market on September 7 started with the price opening at $45.9 and subsequently moving to $46.68, the close of the day, while dropping to the 24H low at $44.2 and spiking to the 24H high at $44.2. On September 8, the crypto coin showcased the following price fluctuations: the trading session began at $47.24 and then traveled from the low of the day at $47.24 to the high of the day at $49.83, closing at $48.8. On the last day of the reviewed period, the coin was locked between $48.66 and $51.23, though the price managed to puncture these levels to reach the 24H high at $51.51 and the 24H low at $48.5. The price action on the asset's market during the period between September 3 and September 9 topped at $51.51, while the bottom of the price range was established at $44.2. The price action on the weekly time frame made Compound within the 8% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $3.87.
As for the average trading volume in the time slot between September 3 and September 9, the Compound market registered the change from $71 956 734 to $31 595 435. During the week before September 3, the trading volume of COMP flowed from $36 237 218 to $125 893 147. The 60% trading volume fluctuation between September 3 and September 9, as compared with the previous period, served as a basis for a 8% price move.
The past week saw the market capitalization of Compound making a shift from $315 752 029 on September 3 to $332 186 817 on September 9, the peak for the analyzed period. The rate of percentage change for the last week for COMP was 5%. As a consequence of the 5% fluctuation in its market capitalization, the price of the coin changed by 8%. A better understanding of the lay of the land on the Compound market requires a comparison with the preceding week when the total market capitalization of Compound changed by 5% as it went from $316 380 263 to $315 752 029.