Thumbnail Source: https://alienworlds.io/
TLM, the native token for the NFT WAX Cloud game Alien Worlds, has gone up by more than 60%, moving from about 26 to 80 cents at the time of this post.
Brief Analysis
At the beginning of April, TLM suffered a major crash within the first days, but towards halfway it quickly mooned. What was a dump from approximately $3 to $1.50 was now a pump from $1.50 to over $6: 4 times the price. TLM appeared to have a good trend for the future, but its listing on Binance made it suffer its most crippling drop in TLM. When listed on Binance, TLM zoomed down from around $6 to 60 cent, a drop of 90%.
Over the last 5 days, TLM remained steady for the former 3, moving in a series of ups and downs. However, at the start of the 4th day (2 May), TLM began to rocket upwards, though in the maximum range it is quite low. Towards the evening of the 2nd of May, TLM reached its peak to tumble decently down. Currently, it appears that another peak is imminent, which can be predicted to move above it.
Within the day range, a usual up and down pattern can be seen, for the most part, pumping towards the end to the current time. Although there is a series of ups and downs, these are not uniform and have an unpredictable sense to them. This suggests that TLM is unstable for the most part.
The current market statistics of TLM are as follows:
Price - ≈$0.80
24h Price change - ≈$0.31
24h low / 24h high - $0.5284 / $0.87
24h Trading volume - $1,295,786,481.28 (+502.87%)
Market dominance - 0.03%
Market rank - 224th
Speculations
Although there appears to be no direct cause for the booming of TLM over the past few days/weeks, significant action occurring in the past day, speculations can be placed to have a plausible reason for the trend.
As outlined earlier, the 24h trading volume has gone up by over %500, meaning 5 times the amount it was yesterday. This means that there is much more activity for TLM, influencing a higher price. A higher trading volume means a higher price, which brings in more traders to further pick up the trading volume, and thus a constant loop of trading and price rise occurs, applicable to TLM. However, this loop does not apply forever, a selling time happening sometime in the cycle because people not only want to buy crypto but to sell it as well for profits.
Another possible reason for TLM's rise is Aliens World's "Thunderdome," though it has been long since they announced it with it being open not appearing anytime soon. But this is perhaps an influencer, people believing that "Thunderdome" is nigh to make Alien Worlds more exciting for its users so there is more people and activity.
Further Reading
Metahub: Complete guide to Alien Worlds Lands - https://metahub.info/2021/321-complete-guide-to-alien-worlds-lands/
Alien Worlds Thunderdome Medium Announcement - https://alienworlds.medium.com/the-thunderdome-battling-on-alien-worlds-a62f7a6d89fc
Alien Worlds Medium Blog Page - https://alienworlds.medium.com/
