The bulls muster more strength as RAI Finance rises by 28% from August 23 to August 29.
The upward movement of the RAI Finance price last week indicates the chosen market is bullish. SOFI was caught in a period of high volatility, which was reflected in its price action. The price action on the coin's market translated to the growth of market capitalization. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.
During the reported period, RAI Finance has been swinging for the fences, which resulted in an average volatility of 29.43% for the given period. The peak of the asset's volatility fell on August 23 after it went all the way to 29.43%. The coin saw its volatility drop to a minimum at 0.3% on August 29. The increased volatility of 29.43% on the SOFI market suggests large price swings in either direction, which is indicative of market instability.
The trading session on August 23 started with RAI Finance opening at $0.11 on the backdrop of bullish sentiment throughout the market. The gains of SOFI after the weekly open on August 23 amounted to 3%. On August 24, the price of the coin has shifted by 1% from the daily open on the back of a good trading volume. The price range of RAI Finance formed between $0.113 and $0.114 on August 25 as the price traveled 1% down. The next trading session was characterized by more bullish price action (as SOFI made a 29% move) on the back of the consistent trading volume. The price oscillation of RAI Finance on August 27 was in the $0.14 - $0.19 range; at the same time, the price stretched out to reach the 24H low at $0.14 and the 24H high at $0.19. The trading period on August 28 saw the crypto coin forming the price amplitude between the open at $0.19 and the close at $0.16, also interacting with $0.14 (24H low) and $0.14 (24H high). Most trading activity on August 29 occurred in the space between $0.15 and $0.14; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.14, though the bulls had also staged the rally to the 24H high at $0.16. The asset posted the weekly low at $0.11, while the top of the weekly trading session was registered at $0.21. The price action on the weekly time frame made RAI Finance within the 28% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.03.
The past 7 days were marked by a change in average daily trading volume from $437 356 on August 23 to $6 528 053 on August 29. We can draw the comparison with the period of 7 days that preceded the reviewed one when SOFI ’s trading volume varied from $339 641 to $3 196 421. The 438% 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 28%.
The total market capitalization of RAI Finance during the past 7-day oscillated between $29 313 599, the starting point that was established on August 23, and $44 061 272 on August 29, the end date of the reviewed period. When translated to percentage rate, the market capitalization of SOFI over the past week adjusted by 50%. When compared to the price fluctuations during the observed period of time, the 50% market capitalization movement was accompanied by a 28% change in the price of the coin. RAI Finance ’s market capitalization from the week before changed by 9%, as the result of fluctuation between $30 699 693 and $29 313 599, to give a clearer vision of the current state of the market.