Data Analysis
Measured by Clometrix
Solana's volatility ratio was 4.17x, against 2.77x for a typical Non-Farm Payrolls release since 2021. Its volume ratio was 7.64x, against a typical 4.45x. That is a strong reaction by this release's own standard. Both compare the quarter hour of the release with an ordinary quarter hour that same day, where 1.00x is no change: volatility is how far the price ranged, volume how much traded.
How Solana moved
Solana was at $101.63 when the figure came out. Fifteen minutes later it was 2.04% lower, and an hour later 2.42% lower. Its high-to-low range in the hour after was 3.26% of its price, against 1.16% in the hour before.
The release
Released by the Bureau of Labor Statistics on 2 February 2024 at 8:30 AM EST. The economy added 119K jobs for January 2024, according to Non-Farm Payrolls, after a gain of 269K in December 2023.
It arrived at the same moment as Non-Farm Private Payrolls and Unemployment Rate, so the reaction measured on this page belongs to all of them together.
What made it matter
Since 2021, Non-Farm Payrolls releases in the two weeks before a Fed decision have moved Solana about as much as those at other times: a median volatility ratio of 2.72x across 21, against 2.81x across 49. This one came out 2 days after the Federal Reserve's 31 January rate decision. Its own ratio of 4.17x compares with 2.81x for those, so it moved the price more than its circumstances alone would suggest.
Its record
Across 70 Non-Farm Payrolls releases since 2021, Solana's median volatility ratio is 2.77x.
About Non-Farm Payrolls
Nonfarm payrolls is the measure of the number of workers in the U.S. excluding farm workers and workers in a handful of other job classifications. This is measured by the Bureau of Labor Statistics (BLS), which surveys private and government entities throughout the U.S. about their payrolls. The BLS reports the nonfarm payroll numbers to the public on a monthly basis through the closely followed “Employment Situation” report.
Disclaimer
The data analysis, forecasted results and projections provided herein are based on historical price action and market trends. While every effort has been made to ensure the accuracy of the information, these predictions are speculative and should not be considered a guarantee of future performance. Market conditions can change rapidly, and past performance is not indicative of future results. Trading and investing involve significant risk, and you should conduct your own research and consult with a licensed financial advisor before making any investment decisions. We do not assume any liability for any losses that may result from reliance on this information.
SOL-USDT
Solana
Open
99.01Close
100.5724h Change
1.56 (1.55%)24h High
102.5724h Low
98.0624h Volume
5.038M SOLUS Non-Farm Payrolls
Bureau of Labor Statistics
2nd February, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 101.63 | 101.66 | 101.57 | 101.64 | 0.01% | 0.09% | 770 SOL |
| During | 101.63 | 101.63 | 100.96 | 100.97 | -0.65% | 0.66% | 17,494 SOL |
| 5 Minutes | |||||||
| Before | 101.54 | 101.73 | 101.52 | 101.64 | 0.10% | 0.21% | 7,085 SOL |
| During | 101.63 | 101.63 | 100.00 | 100.38 | -1.25% | 1.60% | 110,839 SOL |
| 10 Minutes | |||||||
| Before | 101.52 | 101.73 | 101.45 | 101.64 | 0.12% | 0.28% | 13,767 SOL |
| During | 101.63 | 101.63 | 99.51 | 99.97 | -1.66% | 2.09% | 206,797 SOL |
| 15 Minutes | |||||||
| Before | 101.29 | 101.73 | 101.13 | 101.64 | 0.34% | 0.59% | 26,945 SOL |
| During | 101.63 | 101.63 | 99.37 | 99.56 | -2.08% | 2.22% | 282,048 SOL |
| 30 Minutes | |||||||
| Before | 101.40 | 101.73 | 101.13 | 101.64 | 0.24% | 0.59% | 59,427 SOL |
| During | 101.63 | 101.63 | 98.32 | 98.86 | -2.80% | 3.26% | 488,980 SOL |
| 1 Hour | |||||||
| Before | 102.04 | 102.31 | 101.13 | 101.64 | -0.39% | 1.15% | 149,959 SOL |
| During | 101.63 | 101.63 | 98.32 | 99.17 | -2.48% | 3.26% | 711,812 SOL |
| 2 Hours | |||||||
| Before | 102.08 | 102.57 | 101.13 | 101.64 | -0.43% | 1.40% | 353,774 SOL |
| During | 101.63 | 101.63 | 98.32 | 100.66 | -0.96% | 3.26% | 1.1M SOL |
| 4 Hours | |||||||
| Before | 101.04 | 102.57 | 100.55 | 101.64 | 0.59% | 1.97% | 732,199 SOL |
| During | 101.63 | 102.20 | 98.32 | 100.19 | -1.44% | 3.80% | 1.659M SOL |
| 6 Hours | |||||||
| Before | 100.32 | 102.57 | 99.92 | 101.64 | 1.30% | 2.58% | 1.196M SOL |
| During | 101.63 | 102.20 | 98.23 | 99.21 | -2.44% | 3.88% | 2.085M SOL |
| 8 Hours | |||||||
| Before | 99.01 | 101.60 | 98.06 | 101.05 | 2.02% | 3.48% | 1.556M SOL |
| During | 101.04 | 102.57 | 98.32 | 100.19 | -0.85% | 4.14% | 2.391M SOL |
| 12 Hours | |||||||
| Before | 99.01 | 102.57 | 98.06 | 101.64 | 2.59% | 4.40% | 2.288M SOL |
| During | 101.63 | 102.20 | 98.23 | 100.57 | -1.05% | 3.88% | 2.75M SOL |
