Current Price $C — $0.214, decrease over the past day — 4.24%. The changes over the last 7 and 30 days are also negative, indicating an unfavorable trend. The market capitalization is around 34 million dollars, and the circulating supply is 160 million coins out of a total volume of 1 billion.

Technical analysis shows that the MACD histogram is in the negative zone, indicating a bearish market sentiment. RSI around 47 is a neutral level, but slightly leaning towards oversold. Fibonacci retracement levels indicate support at approximately $0.2496, however, the current price is below this mark, which may suggest further decline. $C $C

The overall cryptocurrency market has fallen by 1.09% over the past day, which also affects the situation. The trading volume of Chainbase has decreased by 25%, and reduced liquidity may lead to greater volatility. The Binance campaign, which ended in July, likely lowered interest in the coin, leading to decreased demand.

The main reasons for the decline may be as follows: sell-off after the initial hype following the listing, general market decline, technical indicators indicating a bearish trend, #Chainbase @Chainbase Official