Slightly bearish : traders witnessed IoTeX moving down 2% from August 6 till August 12.
Between August 6 - August 12, IoTeX has been mostly as its price has been in the falling mode. IOTX has been going through a period of medium volatility, which fell in line with the occurred price changes. The market capitalization of the asset has been decreasing in concert with the price of the coin. The price action of the crypto coin last week took place on the back of decreased trading volume.
The price action of IoTeX has been contained due to modest volatility. Given that the average volatility on the IOTX market didn't exceed 6%, the price action remained limited. The volatility of the coin reached its highest point at 6.31% during the observed period. On August 10, the volatility of the asset was at its minimum at 0.1%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
On August 6, the IoTeX market opened at $0.04, preceded by a period of neutral action. There were no gains or losses to the IOTX market on August 6, it remained flat. The market sentiment on August 7 stayed as the coin obtained another 1%. IoTeX posted the interim low at $0.036 on August 8 and then moved up by 1% and peaked at $0.038. The next trading session was characterized by more price action (as IOTX made a 6% move) on the back of the consistent trading volume. After the open at $0.04, IoTeX moved during August 10 in the range between the said open and the close at $0.04, having posted the 24H low at $0.034 and the 24H high at $0.036. The activity on the crypto coin's market on August 11 resulted in the asset being traded between $0.04, the open of the day, and $0.04, the close of the day; at some point, the price spiked to the daily high at $0.037 and briefly dropped to the daily low at $0.035. Most trading activity on August 12 occurred in the space between $0.04 and $0.04; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.036, though the bulls had also staged the rally to the 24H high at $0.037. Over the course of all trading sessions, the asset established the weekly low at $0.034 while buyers managed to push the price up to the weekly high at $0.038. Traders saw IoTeX covering the $0.0006 distance between the weekly low and the weekly high, which constituted for a 2% move.
Over the period of the last 7 days, August 6 to August 12, IoTeX saw its average trading volume fluctuate between $33 481 685 and $18 754 220. We can draw the comparison with the period of 7 days that preceded the reviewed one when IOTX ’s trading volume varied from $31 172 332 to $59 859 810. The 57% 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 2%.
IoTeX had its total market capitalization change from $352 024 120 on August 6 to $344 243 364 on August 12, the end of the examined time frame. IOTX experienced a 2% change in total market capitalization throughout the past seven days. While the market capitalization of the coin was altered by 2%, its price has made a 2% change. In the preceding week, July 30 - August 5, the market capitalization of IoTeX got a 7% adjustment ($319 228 499 to $343 155 524) in comparison to a 2% change last week; this allows getting a deeper insight into the market structure.