RAI Finance market stayed flat from August 17 - August 23.
RAI Finance portrayed neutral behavior last week, with no changes in the price. SOFI was caught in a period of low volatility, which was reflected in its price action. There has been a fall in the market capitalization of the asset during the period under review. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
RAI Finance is experiencing low volatility, as confirmed by our comprehensive analysis. The insignificant movement of the SOFI market came as the result of low average volatility that amounted to 0.38%. The most significant price swings occurred on August 21, when the volatility of the coin was at its highest for the given period at 3.8%. The price action on the asset's market was the weakest on August 22 when the volatility was at 0.38%, the minimum for the given period of time. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.
There were no gains or losses to the SOFI market on August 17, it remained flat. August 18 saw the coin going another 3% since the open, supported by the corresponding trading volume. During the next trading day, the rate of change in the price of RAI Finance stood at 2% having reached the low at $0.11 and the high at $0.11 as the advantage remained on the side of buyers. On August 20, the value of SOFI was in the range, with the market remaining flat. The price range of RAI Finance on August 21 formed between $0.11 and $0.11, whereas the daily price extremities were $0.1 and $0.11. No changes were observed on the crypto coin's market on August 22. August 23 presented us with the following price action data: the coin opened the period at $0.11 and went on to establish the low at $0.11 and the high of the day at $0.11 before closing the day at $0.11. Throughout the reviewed time period, no changes were observed on the asset's market. There was no difference between the lowest and highest price points for the observed week, with the RAI Finance market flatlining.
The trading activity on the RAI Finance market over the past week - August 17 to August 23 - generated the average trading volume that went from $462 404 to $437 356. We can draw the comparison with the period of 7 days that preceded the reviewed one when SOFI ’s trading volume varied from $448 735 to $15 595 589. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 90%, and the 0% price shift.
The total capitalization of Bitcoin at the start of the analyzed time period (August 17) amounted to $29 895 776; by the end of that period (August 23), the capitalization went to $29 313 599. When translated to percentage rate, the market capitalization of SOFI over the past week adjusted by 2%. As a consequence of the 2% fluctuation in its market capitalization, the price of the coin changed by 0%. In the preceding week, August 10 - August 16, the market capitalization of RAI Finance got a 11% adjustment ($34 607 852 to $30 699 693) in comparison to a 2% change last week; this allows getting a deeper insight into the market structure.