Price Action
In the week prior, the price for Dai went down by -0.19%. It is above its 20 day moving average by 41.95%, so it’s very far away. Dai’s bullish momentum, determined by 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. Regarding volatility, Dai is more volatile than roughly 98% 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 Dai to experience a price range in US dollars between 0.0000 and $1.637935.
Where to trade Dai (symbol: DAI): Gate, Yobit, DDEX, Ethfinex
Volume Update
In the week prior, the daily volume for Dai has ranged between 496.38 and 1,642,837 currency units. In the three weeks prior, the trend in volume is not clear, though price is marching upwards. The past 7 days saw Dai’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.53%. Its trading turnover percentage is higher than about 24.51% 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
Dai saw the number of wallets holding its coin go from 32,068 to 33,832 over the past week — a change of 5.50%. And in regards to cumulative transactions logged on the blockchain, they went from 1,362,773 to 1,437,189, which amounts to a change of 5.46%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Dai is thus at 10.96% which, relatively speaking, is ahead of 82.35% of the cryptocurrencies we’re tracking. This could indicate that 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 3.84 years young. Its most recent public update 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 1042 watchers — specifically, that’s more than 70 % of the top 100 coins we’re looking at. The coin has 100 total outstanding issues across all 60 of its public repositories on GitHub. Its number of watchers, when viewed against 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 48% of similar coins in our index.
Where to Buy
You can trade Dai, listed under the symbol DAI, through the following exchanges: Gate, Yobit, DDEX, Ethfinex.
Article by SixJupiter
