The bulls muster more strength as PlatON Network rises by 30% from February 16 to February 22.
The bullish behavior of PlatON Network last week was characterized by the occurrence of upswings. The volatility of LAT has been high throughout the reviewed period in correspondence with the price action. The price action on the coin's market translated to the growth of market capitalization. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
We have established that the average volatility of PlatON Network was at 35% in concert with its rapid price change. February 16 was the day when the asset was the most volatile, with the volatility going as high as 35%. The lowest volatility for the given period was spotted on February 22 and reached 2.24%. 35% is too high a volatility for the LAT market to be considered stable and easily predictable.
While the overall situation on the PlatON Network market was bullish, the trading session on February 16 kicked off at the $0.02 price level. On February 16, the first trading session of the reviewed time period, the market participants saw LAT moving up by 2%. The 2% move in the upward direction took place on the second day after the weekly open. PlatON Network posted the interim low at $0.018 on February 18 and then moved down by 5% and peaked at $0.02. The LAT market was up as the price shifted by 17% on February 19, against the backdrop of the sufficient trading volume. February 20 kicked off with PlatON Network trading opening at $0.02 and then closing the session at $0.03, establishing the 24H low at $0.02 and 24H high at $0.03 in the process. The activity on the crypto coin's market on February 21 resulted in the asset being traded between $0.03, the open of the day, and $0.03, the close of the day; at some point, the price spiked to the daily high at $0.03 and briefly dropped to the daily low at $0.02. Most trading activity on February 22 occurred in the space between $0.03 and $0.03; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.023, though the bulls had also staged the rally to the 24H high at $0.028. During the reviewed time period, the asset was able to achieve the weekly high at $0.03, though at a certain point, the bear pressurized the price down to the weekly low at $0.02. As a result of price action within the designated time period, the price movement range on the PlatON Network market was established at $0.006 or 30% between the weekly low and the weekly high.
As for the average trading volume in the time slot between February 16 and February 22, the PlatON Network market registered the change from $1 754 460 to $2 652 248. We can draw the comparison with the period of 7 days that preceded the reviewed one when LAT ’s trading volume varied from $629 610 to $1 442 807. The asset demonstrated an 118% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 30%.
The change in the total market capitalization of PlatON Network from February 16 to February 22 was as follows: on February 16, the capitalization was at $66 387 670, while on February 22, it reached the level of $92 501 111. The rate of percentage change for the last week for LAT was 39%. The price of the coin changed by 30% on the back of the 39% shift in its total market capitalization. During the week before the analyzed time frame, the market capitalization of PlatON Network moved by 11% as it went from $66 341 588 to $58 957 873, and gave a better understanding of the general direction in which this market is flowing.