Binance Verses Avalanche (BNB vs AVAX) June 4 – July11th, 2022
The role of data cannot be over emphasized because it got detailed interpretation or meaning attached to it.
This article will examine binance token also known as (bnb) and the Avalanche token popularly known as (Avax).
Objectives Of The Study
The following shall be treated in the course of this article.
1D box plot of binance price.
1D box plot of Avax price.
View modes of price of binance and Avax (Data and variable )
Maximum and minimum price of binance and Avax.
Correlation analysis between binance and Avax.
Conclusion
1D box plot of binance price
Below is a 1D box plot showing the price of binance for the stated above period. 1D box plot is an important tool in statistical analysis to show price range.
It can be seen that from the period of June 4 – July11th, the price of binance ranged from $180 - $210 at minimum price and $300 above for the maximum price.
1D box plot of Avax price.
Below is a 1D box plot showing the price of Avax for the stated above period.
It can be seen that from the period of June 4 – July11th, the price of Avax ranged from $14 - $15 at minimum price and $25 -$27 for the maximum price.
The number o7 and 08 are indication where the highest price exist in data numbering.
View modes of price of binance and Avax (data and variable)
Below is an image representing the view modes of both variables. The variable view mode allows us to enter the variables which are the price of Binance and Avax token.
On the other hand, it is necessary to indicate the data mode.
The data mode allows us to enter the data which are the prices of both tokens.
Maximum and minimum price of binance and Avax
Below is a table showing the maximum and minimum price of both tokens.
The maximum price of binance token for that period was $309.51 and its minimum price was $192.58
The maximum price of avax token for that period was $27.66 and its minimum price is $14.33.
Correlation analysis between binance and Avax
The result of correlation analysis between the price of binance and that of avax shows there is a highest degree of relationship between both tokens with a coefficient of ( r = 0.926).
This is an indication that if the price of bitcoin pumps 70%, the price of Avax will also pump at same rate. But if binance experiences a dip, the price of avax will also experience a dip at same rate.
Conclusion
This article has been able to present some characteristic features of binance and avax token prices in the crypto market. However it is necessary for investors who got interest to read through as well.
The following areas where covered during the article, 1d box plot view of both tokens, maximum and minimum prices for the stated period and correlation analysis.
Thank you for reading through.