Golem sees limited 1% gains between October 26 and November 1 as the market cools down.
Golem has been bullish last week as its price has been predominantly rising. GLM was caught in a period of low volatility, which was reflected in its price action. The market capitalization of the asset has been increasing in concert with the price of the coin. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.
Golem is experiencing low volatility, as confirmed by our comprehensive analysis. Our data shows that the average volatility of GLM didn't exceed 0.05%, which is why its price remained constrained. In the period between October 26 and November 1, the volatility of the coin peaked at 0.05%. The asset experienced the period of lowest volatility on October 31 when it fell to 0.05%. Since the crypto coin is displaying low levels of volatility, the price action is likely to remain feeble.
Golem began the day on October 26 at $0.26, while the broad background was bullish. The price of GLM took a 2% up upswing at the open of the weekly trading period. October 27 saw the coin going another 1% since the open, supported by the corresponding trading volume. The price range of Golem formed between $0.262 and $0.27 on October 28 as the price traveled 1% down. On October 29, the value of GLM was in the range, with the market remaining flat. On October 30, Golem finished the trading day with no changes to the flatlined market. No changes were observed on the crypto coin's market on October 31. Most trading activity on November 1 occurred in the space between $0.27 and $0.27; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.27, though the bulls had also staged the rally to the 24H high at $0.28. The highest point of the price action over the week was at $0.28 - the weekly low during the same period was established at $0.26. Traders saw Golem covering the $0.003 distance between the weekly low and the weekly high, which constituted for a 1% move.
As for the average trading volume in the time slot between October 26 and November 1, the Golem market registered the change from $5 237 625 to $12 700 367. Over the week that came before the analyzed time span, the average trading volume of GLM ranged between $4 012 137 and $35 251 325. The asset demonstrated an 36% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 1%.
The change in the total market capitalization of Golem from October 26 to November 1 was as follows: on October 26, the capitalization was at $263 983 939, while on November 1, it reached the level of $272 620 032. The percentage change in the total market capitalization of GLM amounted to 3%. The said 3% percentage change in market capitalization of the coin was accompanied by the 1% fluctuation in the price of the underlying asset. A better understanding of the lay of the land on the Golem market requires a comparison with the preceding week when the total market capitalization of Golem changed by 2% as it went from $264 556 337 to $263 983 939.