Price Action
In the week prior, the price for Crypto.com Chain Token went down by -22.76%. It is below its 20 day moving average by 21.66%, so it’s very far away. Crypto.com Chain Token’s bullish momentum, based on its distance from its 20 day moving average, is among the worst compared to other cryptocurrencies, and thus may indicate the coin has swung too far and too fast — and may thus be due for consolidation or a bullish correction. Regarding volatility, Crypto.com Chain Token is more volatile than roughly 88% 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 0.04086914 and $0.1017859.
Volume Update
Over the past week, Crypto.com Chain saw its daily volume range between 3,788,862 and 14,446,092 units of its own currency. Looking back over past 21 days, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. The past 7 days saw Crypto.com Chain’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.1%. This turnover rate is higher than approximately 13% of the cryptocurrencies we monitor, which means 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 26,366 to 26,433, an increase of 0.25%. And in regards to cumulative transactions logged on the blockchain, they went from 103,465 to 105,931, which amounts to a change of 2.38%. This translates to a combined engagement growth rate of 2.63% for Crypto.com Chain Token — which is higher than 87.70% of the cryptocurrencies we’re reporting on. This growth rate suggests the coin may be on track to getting and sustaining actual usage.
Article by SixJupiter
