The bears stepped up a gear on March 1 - March 7, dropping the price of Gains Farm by 6%.
Gains Farm has been last week as its price has been predominantly falling. The situation on the GFARM2 market shows that the underlying asset is currently experiencing a period of medium volatility. The market capitalization of the asset has been decreasing in concert with the price of the coin. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
The situation on the Gains Farm market allows us to characterise its volatility as mild. The average volatility of 8% was the reason why the price of GFARM2 didn't put up any significant gains. The volatility of the coin reached its highest point at 7.21% during the observed period. The asset saw its volatility drop to the lowest level for the given period on March 5 as it shrank to 0.22%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 8%.
While the overall situation on the Gains Farm market was neutral, the trading session on March 1 kicked off at the $7 972 price level. There were no gains or losses to the GFARM2 market on March 1, it remained flat. The market sentiment on March 2 stayed bearish as the coin obtained another 6%. The cautious traders dominated the price action on March 3, with the Gains Farm market remaining flat. The trading volume on March 4 rendered support to the 7% bearish move of GFARM2. The developments on the Gains Farm market on March 5 started with the price opening at $6 915 and subsequently moving to $7 126, the close of the day, while dropping to the 24H low at $6 901 and spiking to the 24H high at $6 901. The trading period on March 6 saw the crypto coin forming the price amplitude between the open at $7 125 and the close at $7 614, also interacting with $7 087 (24H low) and $7 087 (24H high). The coin found the deepest trough (24H low) at $7 337 on March 7 and then exploded to the ceiling (24H high) at $8 081; the price range for that day was between $7 757 and $7 478. The price action on the asset's market during the period between March 1 and March 7 topped at $8 086, while the bottom of the price range was established at $6 901. The difference between the lowest and the highest price points for the week was 6%, as the price moved in the $515 wide corridor.
The trading activity on the Gains Farm market over the past week - March 1 to March 7 - generated the average trading volume that went from $4 525 to $5 529. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the GFARM2 market had its volume ranging between $53.43 and $26 091. The 20% 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 6%.
The change in the total market capitalization of Gains Farm from March 1 to March 7 was as follows: on March 1, the capitalization was at $280 576 066, while on March 7, it reached the level of $277 992 748. When translated to percentage rate, the market capitalization of GFARM2 over the past week adjusted by 1%. The 1% change in the coin's market capitalization affected the price rate that saw a 6% shift in the same time period. During the week before the analyzed time frame, the market capitalization of Gains Farm moved by 12% as it went from $318 204 637 to $280 576 066, and gave a better understanding of the general direction in which this market is flowing.