April 6, 2020: 0x (ZRX): Up 4.41%

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0x Price Update

0x is up by approximately 4.41% from the previous day, with its price currently hovering around $0.1609 USD. 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 5.31% above its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. From another vantage point, note that price has gone up 7 of the past 10 days. And in terms of volume, yesterday’s price move ocurred on volume that was 40.06% 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 $0.144222 and $0.161358, based on how price has behaved in the two weeks prior. Price’s current proximity to the top of the range may make selling an attractive opportunity to traders interested in trading the range.

As for 0x’s market cap, it is currently at about $105M US dollars.

Straight Off the Chain

704 transactions amongst holders of 0x occurred yesterday. In terms of estimating the number of holders, over the past day the total number of wallets holding 0x has gone up by approximately 95. To understand loyalty or repeat usage amongst holders of 0x, we can note that there were 313 wallets making a transaction yesterday, while 9,107 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.03.

Observing 0x’s Richest Wallets

As for wealth distribution, the richest 1,000 wallets currently own 137.15% of the 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 7.54% 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 -0.08%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 0.07%. 0x’s smart contract owns approximately 0.02% of its own total money supply. This amount hasn’t changed over the past week.

The Latest on 0x and Social Media

If you are interested in following 0x on social media, Twitter, where it has 152,415 following it, may be a good place to start. Here is the Twitter page for 0x.

Article by SixJupiter

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