Crypto project DIA (Decentralized Information Asset) has seen immense volatility in recent days, surging over 55% in the last 24 hours to trade around $0.495 as of this writing.
After ranging between $0.32 and $0.54 over the past day, DIA is currently changing hands near the middle of that wide trading range. Volume has exploded higher in tandem with the price spike, with over $75.5 million worth of DIA trading in the last 24 hours.
Source: CoinStats – Start using it today
As a refresher, DIA functions as a decentralized oracle network, enabling reliable data feeds for use in financial smart contracts. The open-source platform connects data providers, vendors, and users to foster an ecosystem of transparent and accessible financial market data.
The reason behind this specific parabolic move is not immediately clear. There have been no apparent major protocol announcements driving the short-term surge. However, the considerable uptick in trading activity likely contributed to the rally as DIA dominated gains across exchanges.
Nonetheless, it qualifies as an eye-catching move driven chiefly by positive technical and momentum factors rather than tangible developments for the DIA network itself. With the price hitting fluid resistance levels now, a period of consolidation or retracement in the near term looks probable before DIA attempts to confirm the breakout’s legitimacy.
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