Price Action
Since last week, Binance Coin’s price went up by 0.59%. It is below its 20 day moving average by 3.26%, so it’s fairly close. Binance Coin’s bullish momentum, determined by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. In terms of volatility, Binance Coin exhibits greater price volatility than approximately 24% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Binance Coin in US dollars is expected to be between $20.36138 and $25.16062.
Where to trade Binancecoin (symbol: BNB): Gate, Yobit, Binance, DDEX
Volume Update
In the week prior, the daily volume for Binance Coin has ranged between 695,736.5 and 3,987,088 currency units. Looking back over past 21 days, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. Binance Coin experienced a turnover rate of about 1.38% over the past week, which means that is the percent of its available money supply that is traded daily. Its turnover rate is more than approximately 48.96% of the cryptocurrencies in our index, so it’s middle-of-the-pack; investors/traders may thus wish to consider their liquidity requirements to make sure the coin matches their needs and their expected trading volume.
Engagement Update
The number of wallets holding Binance Coin went from 318,240 to 316,649 in the past week, marking a change of -0.50%. As for overall transactions, they increased from 766,344 to 779,113 — an increase of 1.67%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Binance Coin is thus at 1.17% which, relatively speaking, is ahead of 40.62% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin’s weekly growth in engagement is fairly mediocre.
Technology Development Status
At the moment, Binance Coin has 13 repositories open to the public on GitHub, with the oldest one now being 249 days young. The last recorded update to its public repositories 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 197 which is below average relative to its peers; that’s more than only 29 % of the 100 similar coins in our index. The coin has 36 issues reported across its public repositories. In comparison to the number of watchers it has, though, its open issues count is a bit below average, and thus potentially concerning. We view the ratio of open issues on Binance Coin’s GitHub repos relative to the number of developers who follow its repos as a way to quantitatively assess the health of a coin’s software development processes, and for Binance Coin we see that it fares better than only 38% of the coins we group Binance Coin in.
Where to Buy
You can trade Binancecoin, listed under the symbol BNB, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
