Reservedly bullish : the price of Compound grew by 10% in the period of September 4 - September 10.
Compound has been last week as its price has been predominantly rising. The volatility of COMP has been low throughout the reviewed period in correspondence with the price action. The market capitalization of the asset has been increasing in concert with the price of the coin. The price action of the crypto coin from last week stemmed from the increasing trading volume.
The analysis of events on the Compound market shows that the cryptocurrency under review is experiencing a period of low volatility. The average volatility of COMP was capped at 1.41%, leading to weak fluctuations in the price of Compound. The most significant price swings occurred on September 8, when the volatility of the coin was at its highest for the given period at 4.98%. The weakest volatility level of 1.41% on the asset's market was registered on September 9. The volatility of 1.41% is too low for the crypto coin to engage in any attention-worthy price action.
The opening price of Compound was at $47.65 on September 4, with having a more visible presence on the market. The gains of COMP after the weekly open on September 4 amounted to 1%. The 2% move in the downward direction took place on the second day after the weekly open. During the next trading day, the rate of change in the price of Compound stood at 4% having reached the low at $45.91 and the high at $50.28 as the advantage remained on the side of sellers. The trading volume on September 7 rendered support to the 2% bullish move of COMP. Compound finalized the trading day of September 8 at $48.8 after opening it at $47.24, though the price broke through that corridor to hit the 24H high at $49.83 and the 24H low at $47.24. The crypto coin opened the trading session on September 9 at $48.66 and finalized it at $51.23; the highest point of price action was at $51.51, the lowest was detected at $48.5. As for the occurrences on September 10, the price of the coin bottomed at $51.75 and peaked at $53.99, while its daily range formed between $51.75 and $53.28. Over the course of all trading sessions, the asset established the weekly low at $44.2 while buyers managed to push the price up to the weekly high at $53.99. As a result of price action within the designated time period, the price movement range on the Compound market was established at $4.94 or 10% between the weekly low and the weekly high.
The past 7 days were marked by a change in average daily trading volume from $25 980 894 on September 4 to $33 379 703 on September 10. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the COMP market had its volume ranging between $36 237 218 and $125 893 147. The 64% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 10%.
The change in the total market capitalization of Compound from September 4 to September 10 was as follows: on September 4, the capitalization was at $327 235 375, while on September 10, it reached the level of $360 692 428. The percentage change in the total market capitalization of COMP amounted to 10%. As a consequence of the 10% fluctuation in its market capitalization, the price of the coin changed by 10%. During the week before the analyzed time frame, the market capitalization of Compound moved by 1% as it went from $318 307 298 to $315 752 029, and gave a better understanding of the general direction in which this market is flowing.