Price Action
Since last week, Crypto.com Chain Token’s price went up by 1.15%. It is below its 20 day moving average by 1.52%, so it’s fairly close. Crypto.com Chain Token’s bullish momentum, if assessed by its distance from its 20 day moving average, is pretty far negative compared to the other coins we’re covering, and thus may be due for a correction upwards or some kind of a period of low volatility. Now when considering volatility, Crypto.com Chain Token is more prone to sizable price moves than 57% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. Based on volatility over the past three weeks, we can expect Crypto.com Chain Token to experience a price range in US dollars between 0.05882287 and $0.07825513.
Volume Update
In the span of the preceding 7 days, Crypto.com Chain’s daily volume, in terms of its own unit of currency, has fluctuated between 853,374.2 and 4,986,881. Over the past three weeks, 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 0.04%. Its turnover rate is more than approximately 3.06% of the cryptocurrencies in our index, 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
The number of wallets holding Crypto.com Chain Token went from 25,644 to 25,661 in the past week, marking a change of 0.07%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 95,851 to 96,300, which translates to growth of 0.47% 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 0.54% which, relatively speaking, is ahead of 23.53% of the cryptocurrencies we’re tracking. This could indicate that its change in engagement is below average, at least on a percentage basis.
Article by SixJupiter
