Price Action
Over the past week, Paxos Standard saw its price go down by -0.97%. It is above its 20 day moving average by 0.2%, which is quite close. Paxos Standard’s bullish momentum, if assessed by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. In terms of volatility, Paxos Standard exhibits greater price volatility than approximately 4% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Based on volatility over the past three weeks, we can expect Paxos Standard to experience a price range in US dollars between 0.9839103 and $1.05209.
Where to trade Paxos Standard (symbol: PAX): Gate, Yobit, Binance, DDEX, Ethfinex
Volume Update
Over the past week, Paxos Standard Token saw its daily volume range between 223,551.8 and 1,015,484 units of its own currency. Looking back over past 21 days, the trend in volume is not clear, though price is marching upwards. Over the past week, Paxos Standard Token saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.38%. This turnover rate is higher than approximately 20.83% of the cryptocurrencies we monitor, which means it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.
Engagement Update
Over the past week, Paxos Standard saw its holders go from 5,839 to 6,920, an increase of 18.51%. As for overall transactions, they increased from 65,590 to 72,838 — an increase of 11.05%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Paxos Standard is thus at 29.56% which, relatively speaking, is ahead of 90.62% of the cryptocurrencies we’re tracking. This could indicate that the coin may be on track to getting and sustaining actual usage.
Technology Development Status
At the moment, Paxos Standard Token has 30 repositories open to the public on GitHub, with the oldest one now being 2.39 years young. The last recorded update to its public repositories was more than a week ago which is potentially concerning; more than a week without an update may suggest development is too slow. Paxos Standard Token’s public repositories collectively have a total of 65 watchers, which is very bad on a relative basis; it bests only 10 % of the 100 similar coins in our index. The coin has 3 total outstanding issues across all 30 of its public repositories on GitHub. Its number of watchers, when viewed against its open issues count, seems to be in good shape. To elaborate: the ratio of open issues to developers who are watching Paxos Standard Token’s GitHub repos is more favorable than 76% of similar coins in our index.
Where to Buy
You can trade Paxos Standard, listed under the symbol PAX, through the following exchanges: Gate, Yobit, Binance, DDEX, Ethfinex.
Article by SixJupiter
