Price Action
In the week prior, the price for Dai went up by 1.17%. It is above its 20 day moving average by 0.62%, which is quite close. Dai’s bullish momentum, if assessed by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. In terms of volatility, Dai exhibits greater price volatility than approximately 3% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. If volatility over the past three weeks is any indication of what’s to come, we can expect Dai to bounce between 0.977776 and $0.999984 US dollars per coin.
Where to trade Dai (symbol: DAI): Gate, Yobit, DDEX, Ethfinex
Volume Update
In the week prior, the daily volume for Dai has ranged between 489.95 and 1,646,402 currency units. 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 0.62%. Its turnover rate is more than approximately 35% of the cryptocurrencies in our index, 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 35,883 to 37,623 in the past week, marking a change of 4.85%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 1,523,626 to 1,602,855, which translates to growth of 5.20% for the week. Dai’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 10.05% which puts it ahead of 94.67% of the coins in our index. This growth rate suggests the coin may be on track to getting and sustaining actual usage.
Technology Development Status
At the moment, Maker has 60 repositories open to the public on GitHub, with the oldest one now being 3.87 years young. Its last public update to any of its repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Dai’s repos that are visible to the public collectively have 1164 watchers — specifically, that’s more than 71 % of the top 100 coins we’re looking at. The coin has 210 total outstanding issues across all 60 of its public repositories on GitHub. Its number of watchers, when viewed against its open issues count, is a bit below average, and thus potentially concerning. We view the ratio of open issues on Maker’s GitHub repos relative to the number of developers who follow its repos as a way to quantitatively assess the health of a coin’s software development processes, and for Maker we see that it fares better than only 34% of the coins we group Maker in.
Dai News and Commentary
The top theme being discussed about Dai in the past week is listed below. If available, we added an excerpt from the article to help give a taste of what it is about.
TandaPay Explained – Joshua Davis
Where to Buy
You can trade Dai, listed under the symbol DAI, through the following exchanges: Gate, Yobit, DDEX, Ethfinex.
Article by SixJupiter
