The February 19 - 25 market report: Gravity Finance plunges by 15% as sellers apply more pressure.
The downward movement of the Gravity Finance price last week indicates the chosen market is. GFI was caught in a period of medium volatility, which was reflected in its price action. The asset saw its market capitalization falling over the reviewed period together with its price. The price action of the crypto coin last week took place on the back of decreased trading volume.
Gravity Finance has been moving reservedly on the backdrop of average volatility. Our comprehensive data indicates that the price change of GFI has been moderate on the back of the average volatility of 12% for the given time period. The coin has hit the highest point of volatility on February 19. The asset saw its volatility drop to the lowest level for the given period on February 23 as it shrank to 0.12%. The crypto coin's market didn't put up any surprises due to mild average volatility of 12%.
On February 19, the first trading session of the reviewed time period, the market participants saw GFI moving down by 2%. The 3% move in the upward direction took place on the second day after the weekly open. The price range of Gravity Finance formed between $0.017 and $0.02 on February 21 as the price traveled 13% down. The GFI market was up as the price shifted by 2% on February 22, against the backdrop of the sufficient trading volume. After the open at $0.02, Gravity Finance moved during February 23 in the range between the said open and the close at $0.02, having posted the 24H low at $0.017 and the 24H high at $0.018. No changes were observed on the crypto coin's market on February 24. As for the occurrences on February 25, the price of the coin bottomed at $0.017 and peaked at $0.018, while its daily range formed between $0.02 and $0.02. Over the course of all trading sessions, the asset established the weekly low at $0.02 while buyers managed to push the price up to the weekly high at $0.02. Traders saw Gravity Finance covering the $0.003 distance between the weekly low and the weekly high, which constituted for a 15% move.
Over the period of the last 7 days, February 19 to February 25, Gravity Finance saw its average trading volume fluctuate between $17 726 and $18 016. We can draw the comparison with the period of 7 days that preceded the reviewed one when GFI ’s trading volume varied from $20 646 to $220 274. 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 15%.
The past week saw the market capitalization of Gravity Finance making a shift from $19 979 600 on February 19 to $18 362 002 on February 25, the peak for the analyzed period. Percentage-wise, the market capitalization of GFI has shifted by 8% in the past week. When compared to the price fluctuations during the observed period of time, the 8% market capitalization movement was accompanied by a 15% change in the price of the coin. A better understanding of the lay of the land on the Gravity Finance market requires a comparison with the preceding week when the total market capitalization of Gravity Finance changed by 7% as it went from $20 188 607 to $19 979 600.