Price Action
Over the past week, Dai saw its price go down by -0.1%. It is below its 20 day moving average by 0.18%, which is quite close. Dai’s bullish momentum, if assessed by 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. Now when considering volatility, Dai is more prone to sizable price moves than 3% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Dai in US dollars is expected to be between $0.9870398 and $1.01305.
Where to trade Dai (symbol: DAI): Gate, Yobit, DDEX, Ethfinex
Volume Update
Over the past week, Dai saw its daily volume range between 145,759.3 and 2,565,054 units of its own currency. In the three weeks prior, volume has steadily declined, but the trend in price is not as clear one way or the other. Dai experienced a turnover rate of about 1.24% 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 36.84% of the coins we’re tracking, so 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
Dai saw the number of wallets holding its coin go from 24,331 to 25,248 over the past week — a change of 3.77%. And in regards to cumulative transactions logged on the blockchain, they went from 1,112,987 to 1,160,226, which amounts to a change of 4.24%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Dai is thus at 8.01% which, relatively speaking, is ahead of 86.11% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin may be on track to getting and sustaining actual usage.
Technology Development Status
At the moment, Dai has 60 repositories open to the public on GitHub, with the oldest one now being 3.74 years young. The last recorded update to its public repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Maker’s public repositories collectively have a total of 964 watchers, which is pretty good, relatively speaking; specifically, that’s more than 69 % of the top 100 coins we’re looking at. The coin has 94 outstanding issues in the backlog awaiting to be addressed by the core development team. Relative to the number of watchers it has, though, its open issues count is fairly mediocre. We consider the GitHub open issue/watcher ratio as a potential indicator of the healthiness of a coin’s software development process, and for Dai we see that its issue/watcher ratio looks healthier than 54% of similar coins in our index.
Dai News and Commentary
We found 2 links over the past week about Dai that we thought were especially worth sharing. If possible we included a brief excerpt from the article — be sure to click through for the entire piece.
AirSwap is one of the front-runners for a viable decentralized mar
Integrate DAI, Collateralized Loans, & Community Governance with Fabrx’s Maker Web 3.0
Where to Buy
You can trade Dai, listed under the symbol DAI, through the following exchanges: Gate, Yobit, DDEX, Ethfinex.
Article by SixJupiter
