Coins
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NEXO
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2022-09-10

The bears stepped up a gear on September 4 - September 10, dropping the price of NEXO by 6%.

Between September 4 - September 10, NEXO has been mostly as its price has been in the falling mode. The volatility of NEXO has been medium throughout the reviewed period in correspondence with the price action. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.

NEXO has been moving reservedly on the backdrop of average volatility. The market analysis reveals that the mild average volatility of 11% restrained NEXO 's price swings. The coin has hit the highest point of volatility on September 4. The asset saw its volatility drop to the lowest level for the given period on September 8 as it shrank to 0.96%. The crypto coin's market didn't put up any surprises due to mild average volatility of 11%.

The first day of price action was marked by the 1% move to the upside from the point where the trading session opened. September 5 saw the coin going another 1% since the open, supported by the corresponding trading volume. During the next trading day, the rate of change in the price of NEXO stood at 13% having reached the low at $0.89 and the high at $1.04 as the advantage remained on the side of sellers. The NEXO market was down as the price shifted by 2% on September 7, against the backdrop of the sufficient trading volume. NEXO finalized the trading day of September 8 at $0.9 after opening it at $0.89, though the price broke through that corridor to hit the 24H high at $0.91 and the 24H low at $0.88. The price action on September 9 saw the crypto coin moving along the following route: starting point at $0.9 and closing point at $0.94, while it also deviated to establish the high of the day at $0.95 and the low of the day at $0.89. Most trading activity on September 10 occurred in the space between $0.94 and $0.98; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.94, though the bulls had also staged the rally to the 24H high at $0.98. Over the course of all trading sessions, the asset established the weekly low at $0.83 while buyers managed to push the price up to the weekly high at $1.05. NEXO shaped the $0.06 price range over the week of price action, which constituted the 6% gap between the weekly low and the weekly high.

As for the average trading volume in the time slot between September 4 and September 10, the NEXO market registered the change from $10 220 655 to $12 953 179. During the week before September 4, the trading volume of NEXO flowed from $5 119 624 to $31 548 331. The asset demonstrated an 10% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 6%.

The total capitalization of Bitcoin at the start of the analyzed time period (September 4) amounted to $579 664 954; by the end of that period (September 10), the capitalization went to $536 241 098. When translated to percentage rate, the market capitalization of NEXO over the past week adjusted by 7%. While the market capitalization of the coin was altered by 7%, its price has made a 6% change. NEXO ’s market capitalization from the week before changed by 15%, as the result of fluctuation between $524 055 632 and $579 664 954, to give a clearer vision of the current state of the market.

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Article date: September 10 | September 4 - 10

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