A list of the tokens with the highest increases and decreases on August 20 according to market data from OKX.

The tokens MEME, OKB, and LDO led the increases with ranges from 0.75% to 5.74%, while ILV, CRV, and GLM were the tokens that decreased the most, falling from 2.64% to 3.85%.

MAIN CONTENT

  • MEME increased by 5.74%, reaching 0.00213 USD.

  • OKB increased by 4.06%, reaching 127.39 USD.

  • ILV decreased by 3.85%, to 15.225 USD.

Which token had the strongest price increase on August 20 according to OKX data?

Data from OKX shows that MEME is the token with the most notable price increase of the day at 5.74%, trading at 0.00213 USD.

Which tokens experienced the sharpest declines during the same period?

ILV is the token that decreased the most by 3.85%, down to 15.225 USD, followed by CRV, which decreased by 3.06% to 0.834 USD.

GLM, SNX, and APE also recorded declines ranging from 2.64% to 2.94%. This indicates selling pressure or negative sentiment on certain DeFi tokens and altcoin projects on the same day.

The trading session on August 20 showed high volatility in the token market with many opportunities and risks clearly manifested by significant price increases and decreases.

Cryptocurrency market analysis expert, 2024

How do these volatility levels affect cryptocurrency investment strategies?

Significant price fluctuations of tokens like MEME and ILV provide opportunities for short-term investors to capitalize on sharp rising and falling trends.

Conversely, long-term investors need to carefully assess fundamental factors to limit risks during volatile market conditions. Continuously tracking data and technical analysis are crucial elements that support effective risk management.

Real-life examples of the impact of token volatility on investment portfolios

For example, an investor holding MEME before a 5.74% spike will realize significant short-term profits. Meanwhile, holding ILV may lead to losses corresponding to the 3.85% decline.

Proper asset allocation between growth and declining tokens helps balance risks, especially in the frequently volatile cryptocurrency market today.

Frequently Asked Questions

What is MEME and why is it rising sharply?

MEME is a token with entertainment factors, often experiencing sudden price increases when there are positive signals from the community or market events.

How to effectively track token price volatility?

Using a live price table on a reputable exchange combined with technical analysis tools helps accurately track volatility.

Why did ILV drop sharply on August 20?

ILV dropped due to increased selling pressure and psychological volatility in the DeFi market; further consideration of fundamental data and related news is needed.

How does the investment strategy for volatile tokens work?

Combine technical analysis, portfolio management, and news updates to minimize risks from major fluctuations.

How do token volatility levels affect the overall market?

The token volatility index reflects overall sentiment, impacting cryptocurrency market trends on a global scale.

Source: https://tintucbitcoin.com/meme-tang-ilv-giam-cung-ngay/

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