Hash Prices Climb as Provenance Market Cap Surpasses $1.3 Billion

Summary: The price of Provenance’s HASH token has seen significant gains recently, rising approximately 20% within 24 hours and 7% over the week. This increase comes amid a generally stagnant crypto market, with trading volumes increasing significantly on select exchanges. Provenance’s market capitalization has now reached approximately $1.34 billion, positioning HASH as a notable asset in the crypto landscape.

Key Takeaways

Provenance’s HASH token price has risen by roughly 20% in one day and 7% over the week.
The current HASH trading price is around $0.026, significantly below its all-time high but over 165% above its floor price.
Provenance Blockchain’s market cap is approximately $1.34 billion, ranking HASH in the top 100 cryptocurrencies.
Trading volume for HASH surged to about $131,000 in the last 24 hours, with most activity occurring on specific trading pairs.

Hash price grinds higher as Provenance market cap tops $1.3b - 1

Overview of HASH Price Movement

The price of Provenance Blockchain’s HASH token has experienced considerable movement, increasing about 19.6% in just the past day to nearly $0.026. This marks a weekly gain of around 7.6%. While it’s not an explosive rise, it is enough to lift the token toward the higher end of its recent trading range, significantly above last month’s lows but still a ways off from its previous all-time high of approximately $0.0602.

In a day marked by volatility, trading values fluctuated between $0.0098 and $0.0310, with the current price sitting around $0.0259. This amount still lies about 57% lower than its peak but shows an impressive increase of over 165% from its lowest recorded price.

Analyzing Price Trends

Zooming out to a 30-day perspective, the HASH token has appreciated around 9%, while over a 14-day period, it has grown approximately 6.4%. Recently, prices have stabilized momentarily after energetic fluctuations.

Delving deeper into the numbers, Provenance Blockchain’s overall market cap now rests at about $1.34 billion, which places HASH at around No. 77 among cryptocurrencies. Out of a total of 100 billion tokens, approximately 51.9 billion are currently circulating. This brings its fully diluted valuation close to $2.58 billion in a market where the total crypto value stands at $3.19 trillion. Bitcoin and Ethereum command a large share of this market at about 57.1% and 11.8%, respectively.

Additionally, trading volume provides a different perspective; the HASH token saw around $131,000 change hands in the last 24 hours, a significant uptick of more than tenfold compared to the day prior. The HASH/USD pair accounts for over 95% of all trades, whereas the HASH/OSMO pair on Osmosis captures nearly all remaining trading activity. Despite this surge, trading volumes remain relatively light, with a thin volume-to-market-cap ratio indicating that excitement is building but still lacks broad-based engagement.

Conclusion

Examining sector performance, HASH has shown itself to be resilient in a context where many global cryptocurrency benchmarks have turned slightly negative, and smart-contract tokens have stagnated. With Bitcoin and Ethereum also trading down, the positive movement of HASH is becoming increasingly significant in the current market conditions.