Is Skycoin (SKY) Worth the Risk Tuesday?

Tuesday, June 06, 2023 11:04 AM | InvestorsObserver Analysts

Skycoin receives a high risk rating from InvestorsObserver analysis. The proprietary scoring system analyzes how much money was required to move the price over the past 24 hours. The metric looks at recent changes in volume and market cap to evaluate how much a coin can be manipulated by limited trading. The score ranges from 0 to 100, with low scores representing high risk and high values equating to low risk.

InvestorsObserver is giving Skycoin a high Risk/Reward Score. Find out what this means to you and get the rest of the rankings on Skycoin!

See Full SKY Report

Trading Analysis

The risk gauge rank for SKY shows the coin is currently a high risk investment. Traders focused on risk assessment will find the gauge most useful for avoiding (or adding) risky investments. SKY has traded 51.97 lower over the past 24 hours to its current price of $0.131582187. Currently, volume and market capitalization data is not being received through our data provider. The lack of available data is typically a sign of either a new coin or token brought to market or one with extremely low volume and value levels that it is not picked up by leading data providers. No recorded volume or market cap usually correlate with highly volatile coins that may not be the greatest investment choice for the majority of investors. However, those looking for newer cryptos may find coins such as Skycoin extra intriguing.

Summary

The price volatility of SKY over the last 24 hours results in a high risk analysis due to its price volatility in combination with changes in trading volume, giving investors a reason to be concerned on the coin's manipulability as of now. Click Here to get the full Report on Skycoin (SKY).