Price Action
Since last week, Crypto.com Chain Token’s price went down by -12.44%. It is below its 20 day moving average by 2.77%, so it’s fairly close. Crypto.com Chain Token’s bullish momentum, based on its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. In terms of volatility, Crypto.com Chain Token exhibits greater price volatility than approximately 84% of coins in our index, so bear that in mind if you decide to trade it. Based on volatility over the past three weeks, we can expect Crypto.com Chain Token to experience a price range in US dollars between 0.05103426 and $0.09778874.
Volume Update
In the week prior, the daily volume for Crypto.com Chain has ranged between 1,324,708 and 79,799,977 currency units. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. The past 7 days saw Crypto.com Chain’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.29%. Its trading turnover percentage is higher than about 17.65% of the coins we’re tracking, so it’s well below average; this coin may be hard to get into and out of, and thus is suitable only for those interested in holding and exiting slowly and patiently.
Engagement Update
Over the past week, Crypto.com Chain Token saw its holders go from 25,777 to 26,366, an increase of 2.28%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 98,842 to 103,465, which translates to growth of 4.68% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Crypto.com Chain Token is thus at 6.96% which, relatively speaking, is ahead of 90.62% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin may be on track to getting and sustaining actual usage.
Article by SixJupiter
