Market review from January 2 to January 8 : Paribus gets a 6% price appreciation.
The behavior of Paribus last week was characterized by the occurrence of upswings. The volatility of PBX has been medium throughout the reviewed period in correspondence with the price action. There has been a rise in the market capitalization of the asset during the period under review. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.
The unfolding situation in the Paribus market suggests that the reviewed digital asset is in the stage of mild volatility. During the reviewed period, the volatility of PBX was in the middle register, averaging at 7%. The coin was the most volatile on January 2, when the range of its price fluctuations reached 8.02%. On January 6, the volatility of the asset was at its minimum at 0.12%. The crypto coin's market didn't put up any surprises due to mild average volatility of 7%.
The opening price of Paribus was at $0.0007 on January 2, with having a more visible presence on the market. The first day of price action was marked by the 4% move to the upside from the point where the trading session opened. The price action of the coin remained bullish on January 3 as the bulls pushed the price up by 7%. The bulls dominated the price action during the following trading period as the price drifted 1% to the upside, having established the low for the reviewed time frame at $0.00082, while the high was recorded at $0.00085. The trading volume on January 5 rendered support to the 6% bearish move of PBX. The developments on the Paribus market on January 6 started with the price opening at $0.0008 and subsequently moving to $0.0008, the close of the day, while dropping to the 24H low at $0.0008 and spiking to the 24H high at $0.0008. The trading period on January 7 saw the crypto coin forming the price amplitude between the open at $0.0008 and the close at $0.0008, also interacting with $0.00081 (24H low) and $0.00081 (24H high). The coin's market saw no changes on January 8, as the market flatlined. The asset posted the weekly low at $0.0007, while the top of the weekly trading session was registered at $0.0009. As a result of price action within the designated time period, the price movement range on the Paribus market was established at $0.00005 or 6% between the weekly low and the weekly high.
In the period January 2 - January 8, the trading volume of Paribus went from $59 948 on the first day of the reviewed period to $65 025 on the closing day. During the week before January 2, the trading volume of PBX flowed from $52 523 to $143 785. The average trading volume of the asset fluctuated by 8% by comparison with the previous period, whereas the price change of 6% took place over the same period of time.
Paribus had its total market capitalization change from $3 470 790 on January 2 to $3 869 141 on January 8, the end of the examined time frame. Percentage-wise, the market capitalization of PBX has shifted by 11% in the past week. As a consequence of the 11% fluctuation in its market capitalization, the price of the coin changed by 6%. The comparison with the Paribus market capitalization seen during the time period December 26 - January 1 that occurred before the observed one, which changed by 14%, from $3 961 724 to $3 412 701, allows us to get a clearer understanding of current market conditions.