Binance Coin (BNB) June 3, 2019 Weekly Recap: Price Down 3.98%


Price Action

Since last week, Binance Coin’s price went down by -3.98%. It is above its 20 day moving average by 2.83%, so it’s fairly close. Binance Coin’s bullish momentum, if assessed by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Now when considering volatility, Binance Coin is more prone to sizable price moves than 62% of coins in our index, so traders can expect a bit more volatility than usual. If volatility over the past three weeks is any indication of what’s to come, we can expect Binance Coin to bounce between 25.76434 and $37.09966 US dollars per coin.

Where to trade Binancecoin (symbol: BNB): Gate, Yobit, Binance, DDEX

Volume Update

Over the past week, Binance Coin saw its daily volume range between 24,224,889 and 151,491,321 units of its own currency. Looking back over past 21 days, the trend in both volume and price have clearly been up. Over the past week, Binance Coin saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 75.05%. Its turnover rate is more than approximately 92.63% of the cryptocurrencies in our index, so it’s far above average and thus a good coin for those interested in active trading or being able to get out of the market if they need to.

Engagement Update

Binance Coin saw the number of wallets holding its coin go from 317,331 to 316,906 over the past week — a change of -0.13%. And in regards to cumulative transactions logged on the blockchain, they went from 863,644 to 867,081, which amounts to a change of 0.40%. Binance Coin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 0.27% which puts it ahead of 16.67% of the coins in our index. One interpretation of this may be that the coin’s usage is not growing much at all.

Technology Development Status

Binance Coin currently has 18 public repositories on GitHub, with the oldest one now 277 days young. Its most recent public update was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Binance Coin’s public repos now have 239 which is about average compared to other similar coins; that’s more than approximately 41 % of coins in its index. The coin has 38 total outstanding issues across all 18 of its public repositories on GitHub. Relative to the number of watchers it has, though, its open issues count is fairly mediocre. We consider the GitHub open issue/watcher ratio as a potential indicator of the healthiness of a coin’s software development process, and for Binance Coin we see that its issue/watcher ratio looks healthier than 40% of similar coins in our index.

Where to Buy

You can trade Binancecoin, listed under the symbol BNB, through the following exchanges: Gate, Yobit, Binance, DDEX.

Article by SixJupiter

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