The bears stepped up a gear on September 12 - September 18, dropping the price of Diamond by 10%.
The behavior of Diamond last week was characterized by the occurrence of downswings. The volatility of DMD has been medium throughout the reviewed period in correspondence with the price action. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
The situation on the Diamond market allows us to characterise its volatility as mild. During the reviewed period, the volatility of DMD was in the middle register, averaging at 9%. The coin has hit the highest point of volatility on September 12. The asset's volatility was at its lowest on September 16 when it dropped to 0%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
There were no gains or losses to the DMD market on September 12, it remained flat. September 13 saw the coin going another 11% since the open, supported by the corresponding trading volume. During the next trading day, the rate of change in the price of Diamond stood at 2% having reached the low at $2.12 and the high at $2.21 as the advantage remained on the side of sellers. On September 15, the value of DMD was in the range, with the market remaining flat. Diamond finalized the trading day of September 16 at $2.11 after opening it at $2.15, though the price broke through that corridor to hit the 24H high at $2.15 and the 24H low at $2.09. While the 24H high and low on September 17 were at $2.23 and $2.13, respectively, the crypto coin had been traded in the area between the open at $2.13 and the close at $2.23. Most trading activity on September 18 occurred in the space between $2.22 and $2.19; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $2.19, though the bulls had also staged the rally to the 24H high at $2.24. The asset posted the weekly low at $2.09, while the top of the weekly trading session was registered at $2.52. Traders saw Diamond covering the $0.23 distance between the weekly low and the weekly high, which constituted for a 10% move.
The trading activity on the Diamond market over the past week - September 12 to September 18 - generated the average trading volume that went from $15 618 to $14 686. A more comprehensive analysis of DMD price action requires the comparison of the trading volume between September 12 and September 18 with that from the preceding week that demonstrated how the trading volume fluctuated between $11 614 and $21 385. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 2%, and the 10% price shift.
Bitcoin began the observed period September 12 - September 18, with the market capitalization of $9 163 943 and finalized it at the market capitalization level of $8 302 835. Percentage-wise, the market capitalization of DMD has shifted by 9% in the past week. The said 9% percentage change in market capitalization of the coin was accompanied by the 10% fluctuation in the price of the underlying asset. Diamond ’s market capitalization from the week before changed by 17%, as the result of fluctuation between $7 799 220 and $9 163 943, to give a clearer vision of the current state of the market.