Huobi Token sees limited 4% gains between May 13 and May 19 as the market cools down.
The price of Huobi Token was rising last from May 13 until May 19, giving enough reason to conclude that the market is. HT was caught in a period of low volatility, which was reflected in its price action. The price action on the coin's market translated to the growth of market capitalization. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
Huobi Token is experiencing low volatility, as confirmed by our comprehensive analysis. Our data shows that the average volatility of HT didn't exceed 0.34%, which is why its price remained constrained. The maximum volatility of the coin stood at 3.57% in the analyzed time frame. On May 18, the asset didn't make any noticeable price movements as its volatility dropped to the lowest level at 0.34%. Since the crypto coin is displaying low levels of volatility, the price action is likely to remain feeble.
The gains of HT after the weekly open on May 13 amounted to 2%. The 4% move in the upward direction took place on the second day after the weekly open. The price range of Huobi Token formed between $2.83 and $2.98 on May 15 as the price traveled 1% down. The next trading session was characterized by more price action (as HT made a 1% move) on the back of the consistent trading volume. On May 17, Huobi Token finished the trading day with no changes to the flatlined market. While the 24H high and low on May 18 were at $2.95 and $2.87, respectively, the crypto coin had been traded in the area between the open at $2.89 and the close at $2.87. May 19 presented us with the following price action data: the coin opened the period at $2.87 and went on to establish the low at $2.87 and the high of the day at $2.94 before closing the day at $2.9. The highest point of the price action over the week was at $3.01 - the weekly low during the same period was established at $2.7. Huobi Token bounced 4% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.1.
The trading activity on the Huobi Token market over the past week - May 13 to May 19 - generated the average trading volume that went from $15 521 269 to $19 578 475. In order to have a better grasp of the HT market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $5 196 929 to $13 628 299. The average trading volume of the asset fluctuated by 92% by comparison with the previous period, whereas the price change of 4% took place over the same period of time.
The total capitalization of Bitcoin at the start of the analyzed time period (May 13) amounted to $453 491 807; by the end of that period (May 19), the capitalization went to $472 170 760. When translated to percentage rate, the market capitalization of HT over the past week adjusted by 4%. As a consequence of the 4% fluctuation in its market capitalization, the price of the coin changed by 4%. In the preceding week, May 6 - May 12, the market capitalization of Huobi Token got a 11% adjustment ($522 376 203 to $466 861 797) in comparison to a 4% change last week; this allows getting a deeper insight into the market structure.