Price Action
Since last week, Worldwide Asset eXchange’s price went down by -17.81%. It is below its 20 day moving average by 14.2%, so it’s a bit of a ways off. Worldwide Asset eXchange’s bullish momentum, determined by 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, Worldwide Asset eXchange is more volatile than roughly 62% of coins in our index, so traders can expect a bit more volatility than usual. If volatility over the past three weeks is any indication of what’s to come, we can expect Worldwide Asset eXchange to bounce between 0.07710962 and $0.1112824 US dollars per coin.
Where to trade Wax (symbol: WAX): Gate, Ethfinex
Volume Update
Over the past week, WAX saw its daily volume range between 1,756,810 and 18,473,997 units of its own currency. In the three weeks prior, both price and volume have been declining. Over the past week, WAX saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.61%. This turnover rate is higher than approximately 22.55% of the cryptocurrencies we monitor, which means 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
Over the past week, Worldwide Asset eXchange saw its holders go from 16,492 to 16,577, an increase of 0.52%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 165,131 to 167,169, which translates to growth of 1.23% for the week. Worldwide Asset eXchange’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 1.75% which puts it ahead of 51.52% of the coins in our index. This could indicate that the coin’s weekly growth in engagement is fairly mediocre.
Technology Development Status
WAX currently has 3 public repositories on GitHub, with the oldest one now 1.58 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. WAX’s public repos now have 38 which is about average compared to other similar coins; that’s more than approximately 42 % of coins in its index. The coin has 2 total outstanding issues across all 3 of its public repositories on GitHub. Relative 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 WAX’s GitHub repos is more favorable than 63% of similar coins in our index.
Where to Buy
You can trade Wax, listed under the symbol WAX, through the following exchanges: Gate, Ethfinex.
Article by SixJupiter
