Price Action
Over the past week, Paxos Standard saw its price go down by -0.4%. It is below its 20 day moving average by 0.26%, which is quite close. Paxos Standard’s bullish momentum, based on its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. In terms of volatility, Paxos Standard 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. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Paxos Standard in US dollars is expected to be between $0.9924739 and $1.014656.
Where to trade Paxos Standard (symbol: PAX): Gate, Yobit, Binance, DDEX, Ethfinex
Volume Update
In the week prior, the daily volume for Paxos Standard Token has ranged between 103,973.8 and 1,207,378 currency units. Looking back over past 21 days, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. The past 7 days saw Paxos Standard Token’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.39%. Its turnover rate is more than approximately 18.63% of the cryptocurrencies in our index, 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
Paxos Standard saw the number of wallets holding its coin go from 17,502 to 18,903 over the past week — a change of 8.00%. And in regards to cumulative transactions logged on the blockchain, they went from 136,863 to 148,544, which amounts to a change of 8.53%. Paxos Standard’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 16.53% which puts it ahead of 94.12% of the coins in our index. 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, Paxos Standard Token has 30 repositories open to the public on GitHub, with the oldest one now being 2.56 years young. Its most recent public update was within the past week which is not bad, as the coin is still being updated routinely. Paxos Standard Token’s public repos now have 20 which is very bad on a relative basis; it bests only 18 % of the 100 similar coins in our index. The coin has 1 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 seems to be in good shape. To elaborate: the ratio of open issues to developers who are watching Paxos Standard Token’s GitHub repos is more favorable than 68% of similar coins in our index.
Where to Buy
You can trade Paxos Standard, listed under the symbol PAX, through the following exchanges: Gate, Yobit, Binance, DDEX, Ethfinex.
Article by SixJupiter
