- COW crypto has recently hit an ATH in volume.
- Its price has also set a new record.
CoW Protocol [COW] has reached a major milestone, with trading volume skyrocketing to an all-time high. This surge surpassed its previous peak of $361 million in November, reflecting heightened user engagement.
Alongside the volume spike, COW’s price has surged over 50%, signaling strong bullish momentum as it approaches the $1.00 mark.
CoW Protocol witnesses a significant volume spike
The CoW Protocol has recently experienced a notable surge in trading volume, climbing sixfold within a short span.
According to the data from Santiment, the protocol’s daily volume soared from a baseline level to over $461 million as of the 16th of December.
Source: Santiment
Further analysis showed that this was an all-time high. The previous ATH of $361 million, now the second ATH, came in November.
Elevated activity levels often indicate increasing user engagement or liquidity injections, which can lead to further price gains.
COW crypto eyeing a new peak?
Alongside the surge in volume, CoW’s price has recorded a sharp upward trajectory, gaining over 50% in recent sessions. On the daily chart, CoW broke above the $0.60 level and now hovered near $0.93.
This price spike came with a significant increase in trading volumes, signaling strong bullish momentum.
Notably, the Relative Strength Index (RSI) has crossed into the overbought territory at 77.65, indicating heightened buying pressure.
The Aroon indicator further highlighted a bullish trend, with the Aroon Up at 100%, showcasing strong upward momentum, while the Aroon Down remained suppressed.
Author: Adewale Olarinde
