IoTeX showed a moderate 7% growth between July 30 and August 5.
The price of IoTeX was rising last from July 30 until August 5, giving enough reason to conclude that the market is bullish. The volatility of IOTX has been medium throughout the reviewed period in correspondence with the price action. The price action on the coin's market translated to the growth of market capitalization. The price action of the crypto coin from last week stemmed from the increasing trading volume.
The situation on the IoTeX market allows us to characterise its volatility as mild. The average volatility of 7% was the reason why the price of IOTX didn't put up any significant gains. The highest point of the coin's volatility reached 8.75% in the analyzed time frame. The asset saw its volatility drop to the lowest level for the given period on August 3 as it shrank to 1.14%. The crypto coin's market didn't put up any surprises due to mild average volatility of 7%.
The trading session on July 30 started with IoTeX opening at $0.03 on the backdrop of bullish sentiment throughout the market. The first day of price action was marked by the 6% move to the upside from the point where the trading session opened. The coin market was down by 1% on July 31, the second day of the reviewed time period. During the next trading day, the rate of change in the price of IoTeX stood at 4% having reached the low at $0.033 and the high at $0.034 as the advantage remained on the side of sellers. On August 3, IOTX market moved by 2% in the bearish direction in concert with the trading volume. The price range of IoTeX on August 3 formed between $0.03 and $0.04, whereas the daily price extremities were $0.032 and $0.035. The crypto coin opened the trading session on August 4 at $0.04 and finalized it at $0.04; the highest point of price action was at $0.037, the lowest was detected at $0.035. The coin found the deepest trough (24H low) at $0.036 on August 5 and then exploded to the ceiling (24H high) at $0.038; the price range for that day was between $0.04 and $0.04. During the reviewed time period, the asset was able to achieve the weekly high at $0.038, though at a certain point, the bear pressurized the price down to the weekly low at $0.032. Traders saw IoTeX covering the $0.002 distance between the weekly low and the weekly high, which constituted for a 7% move.
The past 7 days were marked by a change in average daily trading volume from $34 364 334 on July 30 to $55 460 906 on August 5. Over the week that came before the analyzed time span, the average trading volume of IOTX ranged between $20 778 672 and $32 160 713. The 69% trading volume fluctuation between July 30 and August 5, as compared with the previous period, served as a basis for a 7% price move.
The change in the total market capitalization of IoTeX from July 30 to August 5 was as follows: on July 30, the capitalization was at $319 228 499, while on August 5, it reached the level of $343 155 524. The percentage change in the total market capitalization of IOTX amounted to 7%. When compared to the price fluctuations during the observed period of time, the 7% market capitalization movement was accompanied by a 7% change in the price of the coin. A more precise analysis of the IoTeX market also requires a comparison with the change in market capitalization from the week before, which amounted to 1% on the back of the move from $311 711 167 to $308 132 392.