Price Action
Since last week, USD Coin’s price went up by 0.02%. It is below its 20 day moving average by 0.07%, which is quite close. USD Coin’s bullish momentum, based on its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. Now when considering volatility, USD Coin is more prone to sizable price moves than 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 USD Coin to experience a price range in US dollars between 0.9955839 and $1.003286.
Where to trade Usd Coin (symbol: USDC): Gate, Yobit, Binance, DDEX
Volume Update
Over the past week, USD Coin saw its daily volume range between 2,665.05 and 161,569.9 units of its own currency. In the three weeks prior, volume has steadily declined, but the trend in price is not as clear one way or the other. The past 7 days saw USD Coin’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.02%. This turnover rate is higher than approximately 3% of the cryptocurrencies we monitor, which means 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
Over the past week, USD Coin saw its holders go from 45,742 to 47,325, an increase of 3.46%. As for overall transactions, they increased from 526,109 to 557,681 — an increase of 6.00%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of USD Coin is thus at 9.46% which, relatively speaking, is ahead of 94.55% of the cryptocurrencies we’re tracking. This growth rate suggests the coin may be on track to getting and sustaining actual usage.
Technology Development Status
USD Coin currently has 2 public repositories on GitHub, with the oldest one now 1.46 years young. Its most recent public update was more than a week ago which is potentially concerning; more than a week without an update may suggest development is too slow. USD Coin’s public repositories collectively have a total of 82 watchers, which is below average relative to its peers; that’s more than only 26 % of the 100 similar coins in our index. The coin has 2 outstanding issues in the backlog awaiting to be addressed by the core development team. Relative to the number of watchers it has, though, its open issues count doesn’t seem like something to worry about. To put the situation in context, USD Coin has a better issue/watcher ratio on its GitHub than 85% of similar coins we’re tracking.
Where to Buy
You can trade Usd Coin, listed under the symbol USDC, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
