Price Action
Over the past week, Crypto.com Chain Token saw its price go down by -9.6%. It is below its 20 day moving average by 6.45%, so it’s slightly away. Crypto.com Chain Token’s bullish momentum, based on its distance from its 20 day moving average, is among the worst compared to other cryptocurrencies, and thus may indicate the coin has swung too far and too fast — and may thus be due for consolidation or a bullish correction. Regarding volatility, Crypto.com Chain Token is more volatile than roughly 31% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. If volatility over the past three weeks is any indication of what’s to come, we can expect Crypto.com Chain Token to bounce between 0.05813576 and $0.07086224 US dollars per coin.
Volume Update
In the week prior, the daily volume for Crypto.com Chain has ranged between 697,368.9 and 7,315,713 currency units. Over the past three weeks, the trend in volume does not have a clear direction, while the price trend is clearly down. Over the past week, Crypto.com Chain saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.05%. Its trading turnover percentage is higher than about 6% 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
Crypto.com Chain Token saw the number of wallets holding its coin go from 25,660 to 25,697 over the past week — a change of 0.14%. And in regards to cumulative transactions logged on the blockchain, they went from 96,268 to 96,950, which amounts to a change of 0.71%. This translates to a combined engagement growth rate of 0.85% for Crypto.com Chain Token — which is higher than 36.36% of the cryptocurrencies we’re reporting on. One interpretation of this may be that its change in engagement is below average, at least on a percentage basis.
Article by SixJupiter
