April 1, 2020: 0x (ZRX): Down 2.35%; Price Crosses 20 Day Average

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0x Price Update

0x is down by approximately 2.35% from the previous day, with its price currently hovering around $0.1494 USD. The down day for 0x yesterday was a reversal from the day before it, which puts its price at 1.7% below its 20 day moving average. Over the past two weeks, price has been in a unclear trend. To help contextualize yesterday’s price move, we can observe that price has rallied 3 of the past 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 72.94% less than its 7 day average volume.

Traders looking for a range to trade within may wish to note that the Bollinger bands (a price indicator based on recent momentum and volatility) for 0x imply the currency may oscillate between $0.140592 and $0.163378, based on how price has behaved in the two weeks prior. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.

The market capitalization of 0x, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $98 million.

Daily Engagement Metrics Update

Yesterday saw 843 transfers amongst holders of 0x. In terms of estimating the number of holders, over the past day the total number of wallets holding 0x has gone up by approximately 41. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.04, with 396 wallets making a transfer this past day and 9,370 wallets having made a transfer in the past month.

Observing 0x’s Richest Wallets

And in regards to wealth distribution, note that the top 1,000 0x wallets hold over 137.21% of the token’s total money supply. Ownership exceeding 100% is due to the fact that our supply metric is focused just on available supply, and some large owners of 0x have ownership they cannot sell at this time — but may be able to in the future. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 7.45% of the currency’s total money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.16%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.3%. The underlying smart contract itself for 0x owns 0.02% of the total money supply; over the past week, this amount has not changed.

0x’s Social Media Presence

If you are interested in following 0x on social media, Twitter, where it has 152,435 following it, may be a good place to start. Use this link to follow 0x on Twitter.

Article by SixJupiter

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