Buyers weakened their grip on the RAI Finance market (August 13 - August 19) as the price rose only by 2%.
The analysis of last week’s price action shows that the RAI Finance market is in the phase since the price has been moving upward. The price swings of SOFI pointed to the presence of low volatility. No rise or fall was observed in the market capitalization of the coin during the period under review. No growth or loss has been observed in trading volume on the crypto coin's market.
The current state of affairs on the cryptocurrency market allows us to draw the conclusion that RAI Finance is now going through the cycle of low volatility. Our data shows that the average volatility of SOFI didn't exceed 1.19%, which is why its price remained constrained. The peak of the coin's volatility for the given time period was reached on August 17 when this parameter went as low as 5.4%. The calmest period on the asset's market was registered on August 18, when the volatility failed to exceed 1.19%. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.
On August 13, the first trading session of the reviewed time period, the market participants saw SOFI moving down by 2%. On August 14 the coin market stayed neutral, with no changes in the price. The price range of RAI Finance formed between $0.1 and $0.13 on August 15 as the price traveled 3% up. The next trading session was characterized by more price action (as SOFI made a 2% move) on the back of the consistent trading volume. On August 17, RAI Finance finished the trading day with no changes to the flatlined market. On August 18, the crypto coin showcased the following price fluctuations: the trading session began at $0.11 and then traveled from the low of the day at $0.11 to the high of the day at $0.11, closing at $0.11. On the last day of the reviewed period, the coin was locked between $0.11 and $0.11, though the price managed to puncture these levels to reach the 24H high at $0.11 and the 24H low at $0.11. During the reviewed time period, the asset was able to achieve the weekly high at $0.13, though at a certain point, the bear pressurized the price down to the weekly low at $0.1. As a result of price action within the designated time period, the price movement range on the RAI Finance market was established at $0.002 or 2% between the weekly low and the weekly high.
RAI Finance ’s average trading volume on the opening day of the observed time period, August 13, stood at $1 605 324, while on the closing day of the same period, it moved to $345 381. In order to have a better grasp of the SOFI market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $181 730 to $15 595 589. The 78% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 2%.
SOFI experienced no change in total market capitalization during the past week. The price of the coin was not changed, with a 0% shift in its total market capitalization. RAI Finance market capitalization from the week before experienced no change, as a result there were no price fluctuations.