IoTeX retraces by 1% in the period September 7 - September 13 as the market turns slightly bearish.
The downward movement of the IoTeX price last week indicates the chosen market is. The volatility of IOTX has been medium throughout the reviewed period in correspondence with the price action. The asset saw its market capitalization growing over the reviewed period together with its price. 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. Our comprehensive data indicates that the price change of IOTX has been moderate on the back of the average volatility of 12% for the given time period. The most significant volatility occurred on September 7 and reached 12.37%. The asset's volatility was at its lowest on September 11 when it dropped to 0.23%. Since the volatility of 12% can be deemed as mild, the crypto coin's market can be characterised as composed.
The price of IOTX took a 2% up upswing at the open of the weekly trading period. On September 8 the coin market stayed neutral, with no changes in the price. IoTeX posted the interim low at $0.03 on September 9 and then moved up by 12% and peaked at $0.03. On September 10, the value of IOTX was in the range, with the market remaining flat. On September 11, IoTeX finished the trading day with no changes to the flatlined market. The price action on September 12 saw the crypto coin moving along the following route: starting point at $0.03 and closing point at $0.03, while it also deviated to establish the high of the day at $0.032 and the low of the day at $0.031. On the last day of the reviewed period, the coin was locked between $0.03 and $0.03, though the price managed to puncture these levels to reach the 24H high at $0.03 and the 24H low at $0.03. The asset posted the weekly low at $0.03, while the top of the weekly trading session was registered at $0.03. IoTeX bounced 1% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.0002.
In the period September 7 - September 13, the trading volume of IoTeX went from $11 782 002 on the first day of the reviewed period to $15 164 040 on the closing day. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the IOTX market had its volume ranging between $5 133 128 and $12 035 288. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 38%, and the 1% price shift.
The total capitalization of Bitcoin at the start of the analyzed time period (September 7) amounted to $256 487 231; by the end of that period (September 13), the capitalization went to $287 293 508. The rate of percentage change for the last week for IOTX was 12%. The price of the coin changed by 1% on the back of the 12% shift in its total market capitalization. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $301 210 654 on August 31 and $282 443 509 on September 6, which translates to a 6% change.