Price Action
In the week prior, the price for Dai went down by -0.42%. It is above its 20 day moving average by 0.04%, 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. In terms of volatility, Dai exhibits greater price volatility than approximately 1% 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 Dai to experience a price range in US dollars between 0.9940935 and $1.002636.
Where to trade Dai (symbol: DAI): Gate, Yobit, DDEX, Ethfinex
Volume Update
In the span of the preceding 7 days, Dai’s daily volume, in terms of its own unit of currency, has fluctuated between 148,836.8 and 1,096,074. Over the past three weeks, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. Dai experienced a turnover rate of about 0.93% over the past week, which means that is the percent of its available money supply that is traded daily. Its turnover rate is more than approximately 33.67% of the cryptocurrencies in our index, 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
The number of wallets holding Dai went from 26,093 to 28,623 in the past week, marking a change of 9.70%. As for overall transactions, they increased from 1,205,511 to 1,258,082 — an increase of 4.36%. This translates to a combined engagement growth rate of 14.06% for Dai — which is higher than 91.18% of the cryptocurrencies we’re reporting on. This growth rate suggests the coin may be on track to getting and sustaining actual usage.
Technology Development Status
Maker currently has 60 public repos on GitHub, with the oldest one clocking in at 3.78 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. Dai’s public repositories collectively have a total of 992 watchers, which is pretty good, relatively speaking; specifically, that’s more than 72 % of the top 100 coins we’re looking at. The coin has 82 total outstanding issues across all 60 of its public repositories on GitHub. In comparison 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 Maker 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. Where available, we included a snippet of the article that we thought might be interesting.
Trust-minimized DAI to BTC payments using Int
Earn DAI while learning about the stablecoin and how it’s g
Where to Buy
You can trade Dai, listed under the symbol DAI, through the following exchanges: Gate, Yobit, DDEX, Ethfinex.
Article by SixJupiter
