Restrained price action on September 16 to September 22 as Klaytn moves up by only 3%.
Klaytn has been last week as its price has been predominantly rising. The price swings of KLAY pointed to the presence of low volatility. The asset saw its market capitalization falling over the reviewed period together with its price. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
The price action of Klaytn is in a stalemate due to low volatility during the observed period. The data derived from our credible sources shows that the average volatility of KLAY didn't exceed 0.1%, which is indicative of weak price action. The most significant price swings occurred on September 20, when the volatility of the coin was at its highest for the given period at 6.01%. The asset experienced the period of lowest volatility on September 21 when it fell to 0.1%. The crypto coin's low volatility of 0.1% points to the weakness of all market participants.
The trading session on September 16 started with Klaytn opening at $0.21 on the backdrop of neutral sentiment throughout the market. On September 17, the price of the coin has shifted by 3% from the daily open on the back of a good trading volume. On September 18, the market was moving to the downside as Klaytn went 2% down from the low at $0.2 to the high at $0.21. Over the next trading period (on September 19), KLAY was moving down by 2% on the back of a congruous trading volume. On September 20, Klaytn finished the trading day with no changes to the flatlined market. The activity on the crypto coin's market on September 21 resulted in the asset being traded between $0.2, the open of the day, and $0.21, the close of the day; at some point, the price spiked to the daily high at $0.21 and briefly dropped to the daily low at $0.2. Most trading activity on September 22 occurred in the space between $0.21 and $0.21; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.2, though the bulls had also staged the rally to the 24H high at $0.21. The price action on the asset's market during the period between September 16 and September 22 topped at $0.21, while the bottom of the price range was established at $0.19. The difference between the lowest and the highest price points for the week was 3%, as the price moved in the $0.006 wide corridor.
Klaytn ’s average trading volume on the opening day of the observed time period, September 16, stood at $28 780 086, while on the closing day of the same period, it moved to $24 638 247. In order to have a better grasp of the KLAY 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 $20 281 331 to $31 549 453. The asset demonstrated an 13% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 3%.
Bitcoin began the observed period September 16 - September 22, with the market capitalization of $618 986 387 and finalized it at the market capitalization level of $610 966 608. The percentage change in the total market capitalization of KLAY amounted to 1%. When compared to the price fluctuations during the observed period of time, the 1% market capitalization movement was accompanied by a 3% change in the price of the coin. A better understanding of the lay of the land on the Klaytn market requires a comparison with the preceding week when the total market capitalization of Klaytn changed by 3% as it went from $659 743 828 to $618 986 387.