The bears had a field day between November 10 and November 16 as Kusama got knocked down by 12%.
Between November 10 - November 16, Kusama has been mostly bearish as its price has been in the falling mode. The volatility associated with the KSM market was medium, as were its price fluctuations. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.
The volatility has been suppressed, as the Kusama price action suggests. During the reviewed period, the volatility of KSM was in the middle register, averaging at 10%. The largest volatility for the given period occurred on November 10 and amounted to 11.88%. The asset saw its volatility drop to the lowest level for the given period on November 14 as it shrank to 0.54%. The crypto coin's market didn't put up any surprises due to mild average volatility of 10%.
On November 10, the first trading session of the reviewed time period, the market participants saw KSM moving up by 7%. The 9% move in the downward direction took place on the second day after the weekly open. On November 12, the market was moving to the downside as Kusama went 5% down from the low at $24.18 to the high at $26.18. The trading volume on November 13 rendered support to the 2% bearish move of KSM. The developments on the Kusama market on November 14 started with the price opening at $24.16 and subsequently moving to $23.88, the close of the day, while dropping to the 24H low at $22.1 and spiking to the 24H high at $22.1. The trading period on November 15 saw the crypto coin forming the price amplitude between the open at $24.02 and the close at $24.84, also interacting with $24.02 (24H low) and $24.02 (24H high). On the last day of the reviewed period, the coin was locked between $24.96 and $24.65, though the price managed to puncture these levels to reach the 24H high at $25.43 and the 24H low at $24.5. The price action on the asset's market during the period between November 10 and November 16 topped at $28.9, while the bottom of the price range was established at $22.1. Kusama bounced 12% between the low of the week and the peak price for the same time period, ultimately creating a price range of $3.23.
In the period November 10 - November 16, the trading volume of Kusama went from $52 606 459 on the first day of the reviewed period to $12 435 940 on the closing day. Over the week that came before the analyzed time span, the average trading volume of KSM ranged between $67 841 679 and $137 138 309. Percentage-wise, the trading volume of the asset changed by 67%, in comparison to the previous period, while its price experienced a 12% adjustment.
The change in the total market capitalization of Kusama from November 10 to November 16 was as follows: on November 10, the capitalization was at $218 548 877, while on November 16, it reached the level of $226 015 724. When translated to percentage rate, the market capitalization of KSM over the past week adjusted by 3%. While the market capitalization of the coin was altered by 3%, its price has made a 12% change. 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 $292 017 286 on November 3 and $271 228 244 on November 9, which translates to a 7% change.