Chain Token (CRO) May 6, 2019 Weekly Recap: Price Down 4.48%


Price Action

In the week prior, the price for Chain Token went down by -4.48%. It is below its 20 day moving average by 8.8%, so it’s somewhat away. Chain Token’s bullish momentum, determined 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. Regarding volatility, Chain Token is more volatile than roughly 43% 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 Chain Token to experience a price range in US dollars between 0.06571411 and $0.08699889.

Volume Update

In the span of the preceding 7 days, Chain’s daily volume, in terms of its own unit of currency, has fluctuated between 747,966.7 and 2,994,258. In the three weeks prior, both price and volume have been declining. The past 7 days saw Chain’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.04%. This turnover rate is higher than approximately 7.29% 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, Chain Token saw its holders go from 21,802 to 23,625, an increase of 8.36%. And in regards to cumulative transactions logged on the blockchain, they went from 57,569 to 73,534, which amounts to a change of 27.73%. This translates to a combined engagement growth rate of 36.09% for Chain Token — which is higher than 93.75% 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

Stay up to date on crypto news!

Sign up for our newsletter for all the hottest crypto stories, ICO reviews, and insights from leading experts of the crypto world - four times a week.

You have been signed up!