By Selma Ivy Reviewed ByEddie Vorman On May 30, 2024 4 minutes, 0 seconds

PARAM Token Is Tumbling: $0.09849 Price, $25.6M Market Cap

Quick Overview

Current Stats: PARAM token priced at $0.09849, market cap $25.6M, circulating supply 260M tokens.
Recent Volatility: 24-hour price fluctuation from $0.1795 to $0.08651; 38.89% decrease.
Historical Highs/Lows: All-time high and low both on May 29, 2024, at $0.1795 and $0.08651 respectively.
Market Stability: 7-day performance stable; global crypto market down 1.10%, Ethereum ecosystem up 12.70%.
Exchange Listings: Available on HTX, Bybit, and Gate.io; HTX’s PARAM/USDT pair volume is $1.93M.

The PARAM token, currently priced at $0.09849, represents a significant player in the cryptocurrency market, with a market capitalisation of $25,607,503 and a circulating supply of 260,000,000 tokens. This article delves into PARAM’s historical performance, its trading dynamics, and the prevailing market trends. We will also explore how these trends might influence the token’s future, providing a comprehensive analysis for potential investors and market watchers.

Recent 24-Hour Volatility: PARAM Drops 38.89%

In the past 24 hours, PARAM has experienced a volatile trading period, with a high of $0.1795 and a low of $0.08651. This fluctuation marks a substantial 38.89% decrease in price, underscoring the token’s susceptibility to rapid market movements. Over the past week, however, PARAM has shown a general upward trend, demonstrating resilience despite the recent dip. The 24-hour trading volume stands at an impressive $25,688,714.27, reflecting high investor interest and liquidity.

May 29, 2024: PARAM Hits $0.1795 and $0.08651

PARAM reached its all-time high of $0.1795 on May 29, 2024, a milestone followed by a sharp correction. The token’s all-time low, recorded on the same day, was $0.08651. This significant price movement within a single day highlights the inherent volatility in the cryptocurrency market. Despite the recent downturn, PARAM’s price has shown a 13.7% increase from its lowest point, suggesting potential for recovery.

The fully diluted valuation (FDV) of PARAM is $197,741,337, providing a broader perspective on its market potential. This valuation considers the total supply of the token, giving investors a more comprehensive view of its long-term prospects.

Comparing PARAM’s 7-Day Performance to Market Trends

Analyzing the broader market trends, PARAM’s seven-day performance has been relatively stable, showing no significant change compared to the global crypto market’s 1.10% decline and the Ethereum ecosystem’s 12.70% increase. This stability amidst varying market conditions indicates PARAM’s potential to maintain its value even during market fluctuations.

The trading volume comparison reveals a remarkable 1,164.80% increase in daily volume, highlighting heightened trading activity. This surge in volume could be attributed to market speculations, investor sentiments, or strategic movements by large holders.

Exchange Listings: PARAM on HTX, Bybit, and Gate.io

PARAM is listed on several prominent exchanges, including HTX, Bybit, and Gate.io. On HTX alone, the PARAM/USDT trading pair has recorded a volume of $1,930,825, indicating robust liquidity and ease of access for traders. The presence on multiple exchanges enhances PARAM’s visibility and accessibility, contributing to its overall trading volume.

Consensus 2024: Expert Views on Crypto Trends

The Consensus 2024 event, held from May 29-31 in Austin, Texas, provided valuable insights into market sentiment and future trends. Adam Roberts, an institutional MPC wallet expert, expressed cautious optimism, noting that regulatory changes, such as the approval of the ETH ETF, signal a positive shift but may not be sufficient to trigger a full-fledged bull market.

Steve Horvath, a colleague of Roberts, observed the event’s atmosphere, indicating a neutral stance—neither bullish nor bearish. Micha Benoliel, co-founder and CEO of Nodle, highlighted the potential for a new bull market driven by regulatory shifts, particularly in the U.S., the largest crypto market globally.

Regulations and Market Integrity: Future of PARAM

Amanda Wick, founder and CEO of the Association for Women in Crypto, reflected on the maturation of the industry, as evidenced by the professional and inclusive nature of this year’s Consensus event. Wick emphasised that the industry’s best chance for a sustained bull run lies in its maturation and increased integrity, suggesting a positive outlook for long-term growth.

Analyzing PARAM’s Future: Price Trends and Predictions

Given the current market dynamics and historical performance, broader market trends and regulatory developments will likely influence PARAM’s price movements. The recent price dip, despite the general upward trend over the week, maybe a temporary correction within a larger growth trajectory.

The substantial increase in trading volume suggests strong market interest, which could drive price recovery and potential growth. However, the warning regarding the contract creator’s ability to alter the token contract introduces a risk factor that investors should consider carefully.

PARAM’s current market position reflects both opportunities and challenges. The token’s historical performance, characterised by significant volatility, indicates potential for substantial gains, albeit with associated risks. The insights from industry experts and the recent market trends suggest a cautiously optimistic outlook for PARAM.

As the cryptocurrency market continues to evolve, PARAM’s ability to navigate regulatory changes, maintain liquidity, and attract investor interest will be crucial for its future success. Investors should stay informed about market developments and exercise caution, balancing potential rewards with the inherent risks of cryptocurrency investments.