0x Price Update
At the time of this writing, 0x has a price of $0.1708 USD, which puts it down by approximately 0.47% from yesterday. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in a unclear trend, and is currently 0.23% above its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. Another data point we may find worthy of observation is that price for 0x has increased 2 of the previous 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 54.01% 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 $0.163354 and $0.177446, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain shorting, as we are nearer to the top of the range.
As for 0x’s market cap, it is currently at about $111M US dollars.
Daily Engagement Metrics Update
Yesterday saw 1,229 transfers amongst holders of 0x. As for the number of holders, yesterday saw the number of wallets holding 0x jump by 165. To understand loyalty or repeat usage amongst holders of 0x, we can note that there were 366 wallets making a transaction yesterday, while 8,190 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.04.
How are the Strong Holders of 0x Faring?
In terms of wealth concentration, the richest 1,000 wallets own 136.82% of the coin’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 7.24% of the currency’s total money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by -0.15% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0%. The underlying smart contract itself for 0x owns 0.02% of the total money supply; over the past week, this amount has not changed.
The Latest on 0x and Social Media
Traders interested in following 0x has the biggest presence on Twitter, where it has 152,335 users engaged. You can follow 0x on Twitter here.
Article by SixJupiter
