Kusama sees limited 1% gains between November 16 and November 22 as the market cools down.
The price of Kusama was rising last from November 16 until November 22, giving enough reason to conclude that the market is. The volatility of KSM has been low throughout the reviewed period in correspondence with the price action. The price action on the coin's market translated to the decline of market capitalization. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.
According to our market analysis, the weak price movement of Kusama was dictated by low volatility. The average volatility of KSM was as low as 0.76%, causing the dull price action. In the period between November 16 and November 22, the volatility of the coin peaked at 0.76%. The asset experienced the period of lowest volatility on November 21 when it fell to 0.76%. The unimpressive volatility of 0.76% showcases the overall weakness of the crypto coin.
The first day of price action was marked by the 1% move to the downside from the point where the trading session opened. The market sentiment on November 17 stayed as the coin obtained another 1%. The bears dominated the price action during the following trading period as the price drifted 2% to the downside, having established the low for the reviewed time frame at $23.84, while the high was recorded at $24.79. Over the next trading period (on November 19), KSM was moving up by 3% on the back of a congruous trading volume. November 20 kicked off with Kusama trading opening at $24.41 and then closing the session at $24.66, establishing the 24H low at $24.41 and 24H high at $24.94 in the process. On November 21, the crypto coin showcased the following price fluctuations: the trading session began at $24.82 and then traveled from the low of the day at $22.83 to the high of the day at $24.82, closing at $23.66. November 22 presented us with the following price action data: the coin opened the period at $23.39 and went on to establish the low at $23.39 and the high of the day at $25 before closing the day at $24.93. During the reviewed time period, the asset was able to achieve the weekly high at $25.43, though at a certain point, the bear pressurized the price down to the weekly low at $22.83. Kusama bounced 1% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.28.
The trading activity on the Kusama market over the past week - November 16 to November 22 - generated the average trading volume that went from $12 435 940 to $14 631 948. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the KSM market had its volume ranging between $17 460 043 and $69 155 936. Percentage-wise, the trading volume of the asset changed by 72%, in comparison to the previous period, while its price experienced a 1% adjustment.
The change in the total market capitalization of Kusama from November 16 to November 22 was as follows: on November 16, the capitalization was at $226 015 724, while on November 22, it reached the level of $218 097 631. KSM experienced a 4% change in total market capitalization throughout the past seven days. The price of the coin changed by 1% on the back of the 4% shift in its total market capitalization. Kusama ’s market capitalization from the week before changed by 19%, as the result of fluctuation between $271 228 244 and $226 015 724, to give a clearer vision of the current state of the market.