Price Action
Over the past week, Dai saw its price go up by Inf%. It is above its 20 day moving average by 42.82%, so it’s very far away. Dai’s bullish momentum, based on its distance from its 20 day moving average, is well above average relative to its peers, and thus may be a sign the market for the coin is overheating and due to correct downwards. In terms of volatility, Dai exhibits greater price volatility than approximately 98% of coins in our index, so bear that in mind if you decide to trade it. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Dai in US dollars is expected to be between $0.0000 and $1.642433.
Where to trade Dai (symbol: DAI): Gate, Yobit, DDEX, Ethfinex
Volume Update
Over the past week, Dai saw its daily volume range between 0 and 1,042,765 units of its own currency. In the three weeks prior, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. The past 7 days saw Dai’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.44%. Its trading turnover percentage is higher than about 20.59% of the coins we’re tracking, so it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.
Engagement Update
The number of wallets holding Dai went from 30,440 to 32,791 in the past week, marking a change of 7.72%. As for overall transactions, they increased from 1,311,226 to 1,393,458 — an increase of 6.27%. This translates to a combined engagement growth rate of 13.99% for Dai — which is higher than 84.85% of the cryptocurrencies we’re reporting on. This growth rate suggests the coin may be on track to getting and sustaining actual usage.
Technology Development Status
Dai currently has 60 public repos on GitHub, with the oldest one clocking in at 3.82 years young. Its most recent public update was within the past week which is not bad, as the coin is still being updated routinely. Maker’s public repos now have 1036 which is pretty good, relatively speaking; specifically, that’s more than 77 % of the top 100 coins we’re looking at. The coin has 108 outstanding issues in the backlog awaiting to be addressed by the core development team. In comparison to the number of watchers it has, though, its open issues count is fairly mediocre. We consider the GitHub open issue/watcher ratio as a potential indicator of the healthiness of a coin’s software development process, and for Maker we see that its issue/watcher ratio looks healthier than 46% of similar coins in our index.
Dai News and Commentary
Over the past week, we found 3 links about Dai that we found especially interesting. Where available, we included a snippet of the article that we thought might be interesting.
Going Through the CDP Life Cycle of Multi-Collat
Excerpt:
Now you can see in ink that your COL1 collateral token is locked in CDP….We used the frob command to lock the COL1 collateral token and then generate DAI before.
The worst white paper that never happened – New Systems Training
Dharma Community Update — 26 June 2019 – The Dha
Where to Buy
You can trade Dai, listed under the symbol DAI, through the following exchanges: Gate, Yobit, DDEX, Ethfinex.
Article by SixJupiter
