The bears had a field day between September 10 and September 16 as Premia got knocked down by 39%.
The price of Premia was falling last from September 10 until September 16, giving enough reason to conclude that the market is. The price swings of PREMIA pointed to the presence of medium volatility. The market capitalization of the asset has been decreasing in concert with the price of the coin. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
While the volatility remains restrained, Premia isn't making any explosive moves. The market analysis reveals that the mild average volatility of 12% restrained PREMIA 's price swings. The coin was the most volatile on September 10, when the range of its price fluctuations reached 13.45%. On September 14, the volatility of the asset was at its minimum at 0.78%. The crypto coin's market didn't put up any surprises due to mild average volatility of 12%.
The trading session on September 10 started with Premia opening at $1.66 on the backdrop of neutral sentiment throughout the market. The gains of PREMIA after the weekly open on September 10 amounted to 7%. The market sentiment on September 11 stayed as the coin obtained another 3%. During the following trading period on September 12, the price of Premia oscillated between the low at $1.47 and the high at $1.59, while the price moved down by 6%. The PREMIA market was down as the price shifted by 13% on September 13, against the backdrop of the sufficient trading volume. After the open at $1.29, Premia moved during September 14 in the range between the said open and the close at $1.28, having posted the 24H low at $1.28 and the 24H high at $1.31. The price action on September 15 saw the crypto coin moving along the following route: starting point at $1.27 and closing point at $1.13, while it also deviated to establish the high of the day at $1.27 and the low of the day at $1.13. Most trading activity on September 16 occurred in the space between $1.13 and $1.08; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $1.08, though the bulls had also staged the rally to the 24H high at $1.14. The asset posted the weekly low at $1.08, while the top of the weekly trading session was registered at $1.78. The difference between the lowest and the highest price points for the week was 39%, as the price moved in the $0.69 wide corridor.
As for the average trading volume in the time slot between September 10 and September 16, the Premia market registered the change from $1 585 151 to $510 733. A more comprehensive analysis of PREMIA price action requires the comparison of the trading volume between September 10 and September 16 with that from the preceding week that demonstrated how the trading volume fluctuated between $375 342 and $1 626 855. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 22%, and the 39% price shift.
The total capitalization of Bitcoin at the start of the analyzed time period (September 10) amounted to $18 341 306; by the end of that period (September 16), the capitalization went to $11 617 845. The percentage change in the total market capitalization of PREMIA amounted to 37%. The price of the coin changed by 39% on the back of the 37% shift in its total market capitalization. A more precise analysis of the Premia market also requires a comparison with the change in market capitalization from the week before, which amounted to 86% on the back of the move from $9 219 661 to $17 172 555.