A 13% price appreciation seen on the IoTeX market between August 1 and August 7.
The price of IoTeX was rising last from August 1 until August 7, giving enough reason to conclude that the market is bullish. The situation on the IOTX market shows that the underlying asset is currently experiencing a period of medium volatility. The price action of the coin has been accompanied by the increased market capitalization of the said digital asset. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.
While the volatility remains restrained, IoTeX isn't making any explosive moves. The average volatility of 7% was the reason why the price of IOTX didn't put up any significant gains. The coin has hit the highest point of volatility on August 1. The asset's volatility was at its lowest on August 5 when it dropped to 0.57%. The crypto coin's market didn't put up any surprises due to mild average volatility of 7%.
On August 1, the first trading session of the reviewed time period, the market participants saw IOTX moving down by 4%. The 2% move in the downward direction took place on the second day after the weekly open. On August 3, the market was moving to the upside as IoTeX went 9% up from the low at $0.032 to the high at $0.035. IOTX ’s performance during August 4 was the following: the price increased by 1% in conjunction with the acceptable trading volume. After the open at $0.04, IoTeX moved during August 5 in the range between the said open and the close at $0.04, having posted the 24H low at $0.036 and the 24H high at $0.038. No changes were observed on the crypto coin's market on August 6. Between the 24H high at $0.038 and the 24H low at $0.036, the coin was traded in the $0.04 - $0.04 price corridor. 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. The price action on the weekly time frame made IoTeX within the 13% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.004.
IoTeX ’s average trading volume on the opening day of the observed time period, August 1, stood at $33 689 709, while on the closing day of the same period, it moved to $12 474 565. Over the week that came before the analyzed time span, the average trading volume of IOTX ranged between $20 778 672 and $34 364 334. The 48% trading volume fluctuation between August 1 and August 7, as compared with the previous period, served as a basis for a 13% price move.
Bitcoin began the observed period August 1 - August 7, with the market capitalization of $316 110 834 and finalized it at the market capitalization level of $342 002 859. Percentage-wise, the market capitalization of IOTX has shifted by 8% in the past week. As a consequence of the 8% fluctuation in its market capitalization, the price of the coin changed by 13%. 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 $311 347 313 to $315 711 106.