2023 TOP to CVE Historical Review

YEARLY HIGH

44.7461 CVE

YEARLY LOW

41.8310 CVE

YEARLY AVERAGE

43.2247 CVE

2023 TOP to CVE Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the TOP to CVE exchange rate experienced significant fluctuation. The market reached its absolute peak on January 5, valuing the pair at 44.7461. Conversely, the yearly low was recorded on July 14, dropping to 41.8310.

This high-to-low spread represents a total annual volatility of 2.9151 CVE. From a start-to-finish perspective, comparing the January average rate of 43.9929 to the December average rate of 43.0526, the exchange rate registered a net change of -2.14% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 44.7461 was down 7.37% compared to the 2022 peak of 48.3059, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 TOP based on timing:

Yearly Peak High 223,730 CVE

2022 Average 225,389 CVE

Yearly Trough Low 209,155 CVE

Transaction Impact: A difference of 14,575.26 CVE purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

44.2572

42.3555

JanuMarcMayJulySeptNove

TOP to CVE Seasonal Trends & Volatility Analysis

A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.

Seasonal Halves (H1 vs H2)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 43.4911, compared to 42.9584 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.5327 points.

H1 Avg (Jan–Jun) 43.4911

H2 Avg (Jul–Dec) 42.9584

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 1.7330 CVE (High: 44.4884 / Low: 42.7555). On the other end, August was the most stable month, with a tight range of 0.6284 CVE (High: 42.8045 / Low: 42.1760).

June Spread (Volatile) ±1.7330

August Spread (Stable) ±0.6284

Growth Streaks & Declines

Trends

Between July and October, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.9082 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.9082

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 43.9929) against the same month in 2022 (average: 42.9334), the exchange rate shifted by +1.0595 (+2.47%).

2023 Avg (January) 43.9929

2022 Avg (January) 42.9334

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	44.7461	43.7180	43.9929
February	44.3530	43.6364	44.0988
March	44.2465	43.0279	43.6989
April	43.2720	42.2512	42.7907
May	43.5988	42.5026	43.0947
June	44.4884	42.7555	43.2705
July	43.1521	41.8310	42.5139
August	42.8045	42.1760	42.5143
September	43.8187	42.6452	43.1909
October	44.0755	43.1544	43.5825
November	43.6820	42.3927	42.8959
December	43.8167	42.7162	43.0526