quick View
- Price and Volume Changes: CROWN token price drops 25.4% to $0.547, with trading volume increasing 242.10% to $1.6 million.
- Volatility: It is trading 72.44% below its ATH of $1.98, but 2009.9% above its ATL of $0.02588.
- Market Cap and Ranking: Current market cap of $91.7 million, ranking 511th in the crypto market.
- Economic Impact: Fall influenced by ether sell-off, economic growth, and a stronger dollar.
- Future outlook: potential recovery linked to market stability and events such as the Decentralized Future Event.
As of today, the CROWN token is priced at $0.547, which represents a substantial drop of 25.40% in the last 24 hours. the token The 24-hour trading volume has increased to $1,619,560.36, an increase of 242.10%. This stark contrast between falling price and rising trading volume indicates increased trading activity, possibly driven by speculative trading or panic selling.
CORONA 72.44% Below ATH, 2009.9% Above ATL
CROWN has experienced significant volatility throughout its trading history. The token reached an all-time high of $1.98 on February 28, 2024, now trading 72.44% down. On the contrary, it recorded an all-time low of $0.02588 on June 30, 2023, which has since increased by 2009.90%. These dramatic price movements highlight the token's susceptibility to market sentiment and broader crypto market trends.
Weekly Drop of 20.52%, Monthly Drop of 51.2%
Over the past week, CROWN fell 20.52%, a trend that reflects broader market conditions rather than isolated factors. The 7-day price range spans from $0.5203 to $0.8072, showing significant intraweek volatility. On a monthly basis, the decline is even steeper, with a drop of 51.2%, suggesting sustained bearish sentiment or market correction phases.
CROWN's market capitalization at $91.7 million ranks 511
With a market capitalization of $91,701,073 and a circulating supply of 170,000,000 tokens, CROWN is ranked 511 in the crypto market. The total supply is capped at 250,000,000 tokens, with a fully diluted valuation of $137,024,592. This substantial gap between circulating and total supply could affect future prices if large quantities of tokens are introduced to the market.
CROWN Price Range: $0.5086-$0.7359 in 24 hours
CROWN price fluctuations in the last 24 hours have ranged between $0.5086 and $0.7359, indicating high volatility. The converter exchange rate is 1 CROWN = $0.546998, which closely aligns with the current market price. This close alignment suggests that market prices are stable in conversion terms despite broader volatility.
Ether sell-off hits CROWN, market drops 2%
The overall crypto market has declined, influenced by a major ether sell-off, which fell due to a $27 million sell order by Symbolic Capital Partner. This event caused notable drops in major altcoins including DOGE, SHIB, AVAX, and LINK, each of which fell by more than 4% in one hour. The CoinDesk 20 index also fell more than 2%, reflecting widespread market apprehension. These trends have likely exacerbated CROWN's recent price declines.
Economic growth and dollar strength hit the token
Current economic conditions in the United States have increased market volatility. A red-hot PMI report, indicating the fastest economic growth in two years, along with a rising dollar on tempered expectations of interest rate cuts, has contributed to a more cautious investment climate. Investors react to these economic signals with greater uncertainty, leading to broader market fluctuations. The S&P 500's 0.6% drop underscores the interconnectedness of the stock and crypto markets, further influencing CROWN's performance. Strong economic growth has also led to speculation about future interest rate increases, which could tighten liquidity and impact investment flows in riskier assets such as cryptocurrencies. Additionally, the stronger dollar makes dollar-denominated investments more attractive, which could divert capital from the cryptocurrency market. These macroeconomic factors collectively create a challenging environment for CROWN and other cryptocurrencies as investors seek safer and more stable investment options amid economic turbulence.
CROWN recovery is possible with market stability
Despite the recent declines, community sentiment around CROWN remains optimistic. This optimism could be boosted by upcoming events such as the Decentralized Future Event in Austin, Texas, May 29-31, 2024. These events often generate positive sentiment and increased interest in blockchain and Web3 technologies, potentially driving the price of CROWN.
Additionally, if the overall market stabilizes and economic conditions improve, CROWN could regain some of its lost value. Historical trends suggest that major events and community involvement often cause short-term price increases. However, sustained long-term growth will likely depend on a broader market recovery, technological advancements, and greater adoption of the CROWN token in real-world applications.
While CROWN faces significant challenges in the current bear market, its historical performance and community support indicate potential for future recovery and growth. Investors should monitor broader market trends, economic indicators, and upcoming events to evaluate the token's trajectory.
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