Price Action
Over the past week, Loom Network saw its price go up by 3.9%. It is above its 20 day moving average by 2.46%, so it’s fairly close. Loom Network’s bullish momentum, if assessed by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Now when considering volatility, Loom Network is more prone to sizable price moves than 11% 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 Loom Network to bounce between 0.06998247 and $0.08305953 US dollars per coin.
Where to trade Loom Network (symbol: LOOM): Gate, Yobit, Binance, DDEX
Volume Update
Over the past week, Loom Network saw its daily volume range between 4,134,197 and 100,907,207 units of its own currency. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. Loom Network experienced a turnover rate of about 3.56% 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 62.89% of the coins we’re tracking, so it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
The number of wallets holding Loom Network went from 8,608 to 8,705 in the past week, marking a change of 1.13%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 118,128 to 120,267, which translates to growth of 1.81% for the week. This translates to a combined engagement growth rate of 2.94% for Loom Network — which is higher than 68.57% of the cryptocurrencies we’re reporting on. One interpretation of this may be that the coin’s engagement is growing at an above average rate.
Technology Development Status
Loom Network currently has 30 public repos on GitHub, with the oldest one clocking in at 1.67 years young. Its last public update to any of its repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Loom Network’s repos that are visible to the public collectively have 943 watchers — specifically, that’s more than 68 % of the top 100 coins we’re looking at. The coin has 186 total outstanding issues across all 30 of its public repositories on GitHub. In comparison to the number of watchers it has, though, its open issues count is a bit below average, and thus potentially concerning. We view the ratio of open issues on Loom Network’s GitHub repos relative to the number of developers who follow its repos as a way to quantitatively assess the health of a coin’s software development processes, and for Loom Network we see that it fares better than only 32% of the coins we group Loom Network in.
Loom Network News and Commentary
The top theme being discussed about Loom Network in the past week is listed below. If available, we added an excerpt from the article to help give a taste of what it is about.
Update Week Recap- Cosmos bug, Tezos Athens, Loo
Where to Buy
You can trade Loom Network, listed under the symbol LOOM, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
