Hello World
Welcome to our Hive-Engine Series where we talk about the best-performing Tokens on the Hive-Engine Platform.
Have a coffee and read this update, specially made for you by gathering information from many articles and analyzing many points to keep your investment within your radar.
Today the crypto market was bathing in red, the bloody red!
Bitcoin fell down by around 8% trading at $55,647/-
This is one of the big issues of crypto market, there is lots of money invested by big market players in it and this market moves as per their desire! though we can't confirm the reason behind this crash but one point is clear that this is not just because of the greed or fear of retail investors, There are some big market movers who are liquidating their crypto assets. The surprising fact was that, DOGE was still playing green in this bloodbath! We can't promise if it would happen further. It's seems like winter days are coming again!
HIVE also had to pay the price, where the price fell down by ~11% trading at $0.52 and HBD price fell down by ~8% trading at $1.53
Regardless of outer crypto market, Tokens of Hive-Engine platform performed as any other normal days!
So without wasting any time let's check today's Top 10 traded tokens of Hive-Engine platform.
Top 10 Traded Tokens on Hive Engine in Last 24hrs
Today's Top Traded Token was DEC with total Traded Volume(24hrs) of $7349 surpassing LEO by ~ 50%
Second most Traded Token was LEO with a total Traded Volume of $4960 which is impressive seeing its consistency in market.
There is a entry of SIM after so many days on 3rd place with a total Traded Volume of $2363 which was ~50% less than LEO Traded Volume.
Now it's time to analyze a little deeper into our Top 3 most Traded Tokens
1. DEC
Today DEC traded ~16% more than yesterday's 24hrs Trade Volume which is good, The price also seemed fluctuating between a range of 0.00155 - 0.00179 with a most traded Price point of 0.00158
overall it was a good day for DEC, analyzing the trade book we can see some big trades over 100 HIVE which confirms the demand on this price range. We'll see a slow and steady upward trend in DEC price in coming days!
By analyzing the Order Book we can see a huge difference between supply and demand of ~25% where the supply is low. Todays difference is big as compared to yesterday. The price gap between max ask price and min bid price is also high at ~25% which is also higher than Yesterday's
There is big support at 0.00158 with second support at 0.00156 and 0.00154, We can also see a big resistance at the price of 0.00179
2. LEO
LEO performed well as compared to yesterday's Trade, we saw a increase in trade volume by ~40% as compared to yesterday's
Analyzing the order book we can clearly see a range of 1.23 - 1.29 with a most traded price point of 1.23
Analyzing the Order Book we could clearly say that the supply of LEO is increased and demand is just around half of its supply, which would create a downward pressure on price in coming days
Another point to notice is that the price gap between min bid price and max ask price has also increased, currently at ~30%, which is alarming!
We can see a big support at 1.20 where as a big resistance at 1.32670
If we didn't see small accounts cashing out or fear in market then the Price would surely touch 1.32 price point but if it happened opposite then could see a price of 1.20 and further below
3. SIM
With Max Green, SIM also performed well
slowly-slowly taking the upward trajectory with the most traded price point of 0.00163
apart from LEO, SIM and DEC are really performing well and we know the reason behind these, "The Product"
By analyzing the Order Book we can say that there not a big difference between min bid and max ask which is a good signal.
The demand is also high as compare to supply by ~110% which is a very good signal for a upward trend!
There is a good support at 0.00161 and a decent resistance at 0.00163, Inshort we would expect that SIM would trade between this range or move upward from 0.00163.
That's All for Today's Update On Top Traded Token on Hive Engine
We'll meet again tomorrow with new updates, I hope this post worth your time.
