Kusama showed a moderate 8% growth between November 17 and November 23.
The upward movement of the Kusama price last week indicates the chosen market is. The volatility associated with the KSM market was low, 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.
Kusama is experiencing low volatility, as confirmed by our comprehensive analysis. The data derived from our credible sources shows that the average volatility of KSM didn't exceed 0.9%, which is indicative of weak price action. In the period between November 17 and November 23, the volatility of the coin peaked at 0.9%. The price action on the asset's market was the weakest on November 22 when the volatility was at 0.9%, the minimum for the given period of time. Since the crypto coin is displaying low levels of volatility, the price action is likely to remain feeble.
During the opening day on November 17, KSM has had a 1% move to the downside. The price action of the coin remained bearish on November 18 as the bears pushed the price down by 2%. Kusama posted the interim low at $23.74 on November 19 and then moved up by 3% and peaked at $24.59. The next trading session was characterized by more price action (as KSM made a 1% move) on the back of the consistent trading volume. The price oscillation of Kusama on November 21 was in the $24.82 - $23.66 range; at the same time, the price stretched out to reach the 24H low at $22.83 and the 24H high at $24.82. The price action on November 22 saw the crypto coin moving along the following route: starting point at $23.39 and closing point at $24.93, while it also deviated to establish the high of the day at $25 and the low of the day at $23.39. November 23 presented us with the following price action data: the coin opened the period at $25.14 and went on to establish the low at $25.11 and the high of the day at $26.4 before closing the day at $26.21. The price action on the asset's market during the period between November 17 and November 23 topped at $26.4, while the bottom of the price range was established at $22.83. Kusama bounced 8% between the low of the week and the peak price for the same time period, ultimately creating a price range of $1.85.
The past 7 days were marked by a change in average daily trading volume from $10 472 700 on November 17 to $13 626 998 on November 23. During the week before November 17, the trading volume of KSM flowed from $12 435 940 to $52 606 459. The 63% 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 8%.
The change in the total market capitalization of Kusama from November 17 to November 23 was as follows: on November 17, the capitalization was at $222 091 594, while on November 23, it reached the level of $229 653 146. KSM experienced a 3% change in total market capitalization throughout the past seven days. When compared to the price fluctuations during the observed period of time, the 3% market capitalization movement was accompanied by a 8% change in the price of the coin. The comparison with the Kusama market capitalization seen during the time period November 10 - November 16 that occurred before the observed one, which changed by 3%, from $218 548 877 to $226 015 724, allows us to get a clearer understanding of current market conditions.