Price Action
In the week prior, the price for Dai went down by -0.86%. It is below its 20 day moving average by 0.82%, which is quite close. Dai’s bullish momentum, based on 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, Dai is more prone to sizable price moves than 3% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Based on volatility over the past three weeks, we can expect Dai to experience a price range in US dollars between 0.9906228 and $1.002747.
Where to trade Dai (symbol: DAI): Gate, Yobit, DDEX, Ethfinex
Volume Update
In the span of the preceding 7 days, Dai’s daily volume, in terms of its own unit of currency, has fluctuated between 50,802.12 and 620,406.3. Looking back over past 21 days, volume has steadily declined, but the trend in price is not as clear one way or the other. Over the past week, Dai saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.18%. Its trading turnover percentage is higher than about 12% of the coins we’re tracking, 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
Dai saw the number of wallets holding its coin go from 28,314 to 30,440 over the past week — a change of 7.51%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 1,249,482 to 1,311,226, which translates to growth of 4.94% for the week. Dai’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 12.45% which puts it ahead of 90.91% 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 3.8 years young. The last recorded update to its public repositories was within the past week which is not bad, as the coin is still being updated routinely. Maker’s public repos now have 1008 which is pretty good, relatively speaking; specifically, that’s more than 65 % of the top 100 coins we’re looking at. The coin has 78 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 56% of similar coins in our index.
Dai News and Commentary
We found one link over the past week about Dai that we thought was especially worth sharing. Where available, we included a snippet of the article that we thought might be interesting.
Getting TandaPay Built: Project update from blOX Consulting
Where to Buy
You can trade Dai, listed under the symbol DAI, through the following exchanges: Gate, Yobit, DDEX, Ethfinex.
Article by SixJupiter
