Price Action
In the week prior, the price for Paxos Standard went down by -0.99%. It is below its 20 day moving average by 0.94%, which is quite close. Paxos Standard’s bullish momentum, based on its distance from its 20 day moving average, is pretty far negative compared to the other coins we’re covering, and thus may be due for a correction upwards or some kind of a period of low volatility. Regarding volatility, Paxos Standard is more volatile than roughly 2% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. If volatility over the past three weeks is any indication of what’s to come, we can expect Paxos Standard to bounce between 0.9877812 and $1.011109 US dollars per coin.
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 16,142.49 and 89,993.7 units of its own currency. Looking back over past 21 days, the trend in volume does not have a clear direction, while the price trend is clearly down. Paxos Standard Token experienced a turnover rate of about 0.02% over the past week, which means that is the percent of its available money supply that is traded daily. Its trading turnover percentage is higher than about 4.04% of the coins we’re tracking, so it’s well below average; this coin may be hard to get into and out of, and thus is suitable only for those interested in holding and exiting slowly and patiently.
Engagement Update
Paxos Standard saw the number of wallets holding its coin go from 9,672 to 10,917 over the past week — a change of 12.87%. As for overall transactions, they increased from 88,082 to 95,410 — an increase of 8.32%. Paxos Standard’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 21.19% which puts it ahead of 97.22% of the coins in our index. This could indicate that the coin may be on track to getting and sustaining actual usage.
Technology Development Status
Paxos Standard Token currently has 30 public repos on GitHub, with the oldest one clocking in at 2.44 years young. Its last public update to any of its 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 66 watchers, which is very bad on a relative basis; it bests only 13 % of the 100 similar coins in our index. The coin has 3 issues reported across its public repositories. In comparison to the number of watchers it has, though, 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 77% 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
