Welcome to our Hive-Engine Series where we talk about the best-performing Tokens on the Hive-Engine Platform. Today was a day for Splinterlands and its DEC Token, the Increasing volume of trades shows that the interest in the game is increasing every day and we wish it increase more rapidly. Finger crossed!
First, let's rapidly take a look at the Top 10 Traded Tokens on #Hive-Engine and then we'll discuss the Top 3 #Tokens of the day.
Yes, Dark Energy Crystals (#DEC) is in-game again and this time with a bigger trade volume than past days, with a total trade volume of $5695/-
I too play this game and I totally admire the work of its creators. This game is huge yet the numbers of active players are not as much as this game actually deserves. With the growth of #Hive we would definitely see an increase in its active players or Vice Versa.
On the second position with a total trade volume of $4371/-, there is still SWAP.DOGE showing the interest of buyers in #DOGE and it's going week bull run, though today we a price correction in DOGE with a fall of 25% which was expected after such a big jump. I am just expecting it to be a correction and not the beginning of a big downfall, still, I would not suggest anyone invest in it and advise to spectate and see more price correction.
On the Third Position with a trading volume of $3594/- It's one of the most favourite Token of Hive Engine The "LEO". I fully believe in the future of this project and selling these tokens at such a low price would be just a waste of fortune! I am going to #HODL #LEO for at least the next 5 years. #BigBeliver
Now Let's quickly jump into our next section and analyze some more details from our Top 3 Tokens
Just by analyzing the Order Book, we can at least say that there is more demand than supply where the difference between Min Bid Price and Max Ask Price is ~20%
At a Price point of 0.00164, there are 811,238 DEC on sale which is creating a big resistance for an upward moment and at a Price point of 0.00151, there is demand for 896,000 DEC creating good support.
By Analyzing the Trade Book we can clearly see that the Price Point of 0.00164 is the most traded price with a big resistance. The numbers of trades are also high as compared to other Tokens, there are small as well as big trades. This shows that the IN Game purchases are done by both types of investors and that's really a good sign for the future of this game and the #DEC token.
Today big red candle is just a result of the #DOGE price correction where the price fell down by 25% and it was very much expected. It might be the end of the Party for buyers who bought DOGE recently or We can see another jump breaking its all-time high price of $0.450486. Whatever it might be, I am just HODLing my DOGE from the past 2 years bought using 10SBD which now worth around $1200/- Lucky Me!
By analyzing the Order Book we could definitely see some imaginary Prices but there is a good support price at 0.42803 with 10413 DOGE and there is big resistance at price point 0.51792 with 11957 DOGE.
There nothing much to analyze about it from the Trade book as per expectation due to the outer market volatility of DOGE, #SWAP.DOGE was heavily traded on Hive-Engine.
As the day passing and LEO being traded sideways the Gap between Supply and Demand for #LEO in Order Book is increasing, With a total demand of 2418 LEO for a Total 2418 HIVE and a total supply of 980 LEO for a Total of 1269 HIVE. The Data is looking good as per the order book but we all know that human psychology of fear and greed always tends to help bear dumping the price.
There is a good support price at 1.21000 with a demand of 1528 LEO and a few small resistances at price points of 1.26005, 1.299 and 1.32380.
By analyzing the Trade Book we can clearly see that the recent price fall was done by some eager to cash out kind of small profiles which dropped the price by 2.5% in just a few minutes. There were good trades that also happened at the price of 1.26 which somehow making a favourite temporary Price for LEO to trade.
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.
@hunter-yogi