Minto sees limited 5% gains between September 5 and September 11 as the market cools down.
The analysis of last week’s price action shows that the Minto market is in the phase since the price has been moving upward. The volatility of BTCMT has been medium throughout the reviewed period in correspondence with the price action. The market capitalization of the asset has been increasing in concert with the price of the coin. The price action of the crypto coin from last week stemmed from the increasing trading volume.
The price action of Minto has been contained due to modest volatility. During the reviewed period, the volatility of BTCMT was in the middle register, averaging at 11%. The largest volatility for the given period occurred on September 5 and amounted to 12.57%. On September 9, the volatility of the asset was at its minimum at 0.68%. The crypto coin's market didn't put up any surprises due to mild average volatility of 11%.
The gains of BTCMT after the weekly open on September 5 amounted to 1%. The market sentiment on September 6 stayed bearish as the coin obtained another 12%. The price range of Minto formed between $0.66 and $1.04 on September 7 as the price traveled 4% down. The BTCMT market was up as the price shifted by 10% on September 8, against the backdrop of the sufficient trading volume. The developments on the Minto market on September 9 started with the price opening at $0.74 and subsequently moving to $0.75, the close of the day, while dropping to the 24H low at $0.71 and spiking to the 24H high at $0.71. On September 10, the crypto coin showcased the following price fluctuations: the trading session began at $0.75 and then traveled from the low of the day at $0.74 to the high of the day at $0.8, closing at $0.78. As for the occurrences on September 11, the price of the coin bottomed at $0.83 and peaked at $1.05, while its daily range formed between $0.88 and $0.83. $0.66 was the bottom of price action for the week, though the price went to the high extreme at $1.05 over the same time period. The difference between the lowest and the highest price points for the week was 5%, as the price moved in the $0.04 wide corridor.
Minto ’s average trading volume on the opening day of the observed time period, September 5, stood at $1 591, while on the closing day of the same period, it moved to $328. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the BTCMT market had its volume ranging between $188 and $7 216. Percentage-wise, the trading volume of the asset changed by 13%, in comparison to the previous period, while its price experienced a 5% adjustment.
The total market capitalization of Minto during the past 7-day oscillated between $1 864 208, the starting point that was established on September 5, and $2 167 976 on September 11, the end date of the reviewed period. The percentage change in the total market capitalization of BTCMT amounted to 16%. The said 16% percentage change in market capitalization of the coin was accompanied by the 5% fluctuation in the price of the underlying asset. During the week before the analyzed time frame, the market capitalization of Minto moved by 5% as it went from $1 944 458 to $1 843 409, and gave a better understanding of the general direction in which this market is flowing.