The capitulation of August 31 - September 6 : IoTeX experienced a 12% dive.
The price of IoTeX was falling last from August 31 until September 6, giving enough reason to conclude that the market is bearish. IOTX was caught in a period of medium volatility, which was reflected in its price action. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
The volatility has been suppressed, as the IoTeX price action suggests. 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 6.99% during the observed period. On September 4, the volatility of the asset was at its minimum at 0.26%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.
The trading session on August 31 started with IoTeX opening at $0.03 on the backdrop of bearish sentiment throughout the market. The losses of IOTX after the weekly open on August 31 amounted to 3%. The price action of the coin remained bearish on September 1 as the bears pushed the price down by 4%. The cautious traders dominated the price action on September 2, with the IoTeX market remaining flat. IOTX ’s performance during September 3 was the following: the price increased by 4% in conjunction with the acceptable trading volume. The developments on the IoTeX market on September 4 started with the price opening at $0.03 and subsequently moving to $0.03, the close of the day, while dropping to the 24H low at $0.03 and spiking to the 24H high at $0.03. The activity on the crypto coin's market on September 5 resulted in the asset being traded between $0.03, the open of the day, and $0.03, the close of the day; at some point, the price spiked to the daily high at $0.03 and briefly dropped to the daily low at $0.03. Most trading activity on September 6 occurred in the space between $0.03 and $0.03; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.03, though the bulls had also staged the rally to the 24H high at $0.03. The price action on the asset's market during the period between August 31 and September 6 topped at $0.03, while the bottom of the price range was established at $0.03. As a result of price action within the designated time period, the price movement range on the IoTeX market was established at $0.004 or 12% between the weekly low and the weekly high.
Over the period of the last 7 days, August 31 to September 6, IoTeX saw its average trading volume fluctuate between $11 222 011 and $7 459 787. In order to have a better grasp of the IOTX 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 $12 472 192 to $23 266 779. The 48% 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 12%.
The past week saw the market capitalization of IoTeX making a shift from $301 210 654 on August 31 to $282 443 509 on September 6, the peak for the analyzed period. IOTX experienced a 6% change in total market capitalization throughout the past seven days. The price of the coin changed by 12% on the back of the 6% shift in its total market capitalization. During the week before the analyzed time frame, the market capitalization of IoTeX moved by 6% as it went from $302 007 603 to $320 867 945, and gave a better understanding of the general direction in which this market is flowing.