Klaytn exploded by 34% in the period of October 25 - October 31 as the buyers got an upper hand.
The bullish behavior of Klaytn last week was characterized by the occurrence of upswings. The volatility associated with the KLAY market was high, as were its price fluctuations. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The price action of the crypto coin from last week stemmed from the increasing trading volume.
Due to the active price action, the average volatility of Klaytn jumped to 25.41%. The asset was the most volatile on October 25 when the registered volatility shot up to 25.41%. The quietest period on the coin's market happened on October 31 as the volatility failed to surpass the 3.62% mark. The high volatility of 25.41% points to the possibility of unpredictable and violent price action.
The first day of price action was marked by the 9% move to the downside from the point where the trading session opened. The price action of the coin remained on October 26 as the pushed the price up by 8%. Klaytn posted the interim low at $0.21 on October 27 and then moved up by 26% and peaked at $0.26. KLAY ’s performance during October 28 was the following: the price declined by 6% in conjunction with the acceptable trading volume. Klaytn finalized the trading day of October 29 at $0.32 after opening it at $0.26, though the price broke through that corridor to hit the 24H high at $0.32 and the 24H low at $0.24. The activity on the crypto coin's market on October 30 resulted in the asset being traded between $0.32, the open of the day, and $0.27, the close of the day; at some point, the price spiked to the daily high at $0.33 and briefly dropped to the daily low at $0.27. As for the occurrences on October 31, the price of the coin bottomed at $0.26 and peaked at $0.28, while its daily range formed between $0.27 and $0.26. Over the course of all trading sessions, the asset established the weekly low at $0.19 while buyers managed to push the price up to the weekly high at $0.33. Traders saw Klaytn covering the $0.07 distance between the weekly low and the weekly high, which constituted for a 34% move.
In the period October 25 - October 31, the trading volume of Klaytn went from $433 504 832 on the first day of the reviewed period to $174 182 810 on the closing day. We can draw the comparison with the period of 7 days that preceded the reviewed one when KLAY ’s trading volume varied from $17 905 289 to $227 636 474. The 223% 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 34%.
The total market capitalization of Klaytn during the past 7-day oscillated between $680 881 063, the starting point that was established on October 25, and $825 544 728 on October 31, the end date of the reviewed period. The percentage change in the total market capitalization of KLAY amounted to 21%. As a consequence of the 21% fluctuation in its market capitalization, the price of the coin changed by 34%. A more precise analysis of the Klaytn market also requires a comparison with the change in market capitalization from the week before, which amounted to 29% on the back of the move from $444 618 376 to $572 733 991.