The bleeding market: IoTeX loses 7% between September 1 and September 7 as the selling pressure grows.

The downward movement of the IoTeX price last week indicates the chosen market is bearish. IOTX has been going through a period of medium volatility, which fell in line with the occurred price changes. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.

IoTeX has been moving reservedly on the backdrop of average volatility. During the reviewed period, the volatility of IOTX was in the middle register, averaging at 6%. The coin has hit the highest point of volatility on September 1. The asset saw its volatility drop to the lowest level for the given period on September 5 as it shrank to 0.26%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.

IoTeX began the day on September 1 at $0.03, while the broad background was bearish. The price of IOTX took a 4% down downswing at the open of the weekly trading period. On September 2 the coin market stayed neutral, with no changes in the price. The price range of IoTeX formed between $0.029 and $0.03 on September 3 as the price traveled 4% up. Over the next trading period (on September 4), IOTX was moving up by 1% on the back of a congruous trading volume. The price range of IoTeX on September 5 formed between $0.03 and $0.03, whereas the daily price extremities were $0.03 and $0.03. The trading period on September 6 saw the crypto coin forming the price amplitude between the open at $0.03 and the close at $0.03, also interacting with $0.03 (24H low) and $0.03 (24H high). Between the 24H high at $0.028 and the 24H low at $0.027, the coin was traded in the $0.03 - $0.03 price corridor. During the reviewed time period, the asset was able to achieve the weekly high at $0.03, though at a certain point, the bear pressurized the price down to the weekly low at $0.03. The difference between the lowest and the highest price points for the week was 7%, as the price moved in the $0.002 wide corridor.

In the period September 1 - September 7, the trading volume of IoTeX went from $12 035 288 on the first day of the reviewed period to $11 782 002 on the closing day. We can draw the comparison with the period of 7 days that preceded the reviewed one when IOTX ’s trading volume varied from $11 222 011 to $23 266 779. Percentage-wise, the trading volume of the asset changed by 46%, in comparison to the previous period, while its price experienced a 7% adjustment.

IoTeX had its total market capitalization change from $285 486 884 on September 1 to $256 487 231 on September 7, the end of the examined time frame. Percentage-wise, the market capitalization of IOTX has shifted by 10% in the past week. The said 10% percentage change in market capitalization of the coin was accompanied by the 7% fluctuation in the price of the underlying asset. In the preceding week, August 25 - August 31, the market capitalization of IoTeX got a 2% adjustment ($296 130 093 to $301 210 654) in comparison to a 10% change last week; this allows getting a deeper insight into the market structure.

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Article date: September 7 | September 1 - 7

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