Price Action
Over the past week, Crypto.com Chain Token saw its price go up by 22.21%. It is above its 20 day moving average by 21.02%, so it’s a bit of a ways off. Crypto.com Chain Token’s bullish momentum, determined by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. Now when considering volatility, Crypto.com Chain Token is more prone to sizable price moves than 49% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Crypto.com Chain Token in US dollars is expected to be between $0.05924545 and $0.07897655.
Volume Update
Over the past week, Crypto.com Chain saw its daily volume range between 1,663,443 and 4,269,289 units of its own currency. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. The past 7 days saw Crypto.com Chain’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.05%. Its turnover rate is more than approximately 4.21% 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
Over the past week, Crypto.com Chain Token saw its holders go from 23,701 to 25,695, an increase of 8.41%. And in regards to cumulative transactions logged on the blockchain, they went from 77,555 to 95,075, which amounts to a change of 22.59%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Crypto.com Chain Token is thus at 31.00% which, relatively speaking, is ahead of 97.22% of the cryptocurrencies we’re tracking. This growth rate suggests the coin may be on track to getting and sustaining actual usage.
Article by SixJupiter
