Price Action
Over the past week, Dai saw its price go up by 0.14%. It is below its 20 day moving average by 1.18%, which is quite close. Dai’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. Now when considering volatility, Dai is more prone to sizable price moves than 4% 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 0.970296 and $1.041254.
Where to trade Dai (symbol: DAI): Gate, Yobit, DDEX, Ethfinex
Volume Update
In the week prior, the daily volume for Dai has ranged between 251,635.5 and 4,898,608 currency units. Over the past three weeks, volume has steadily risen, but price has been declining. Dai experienced a turnover rate of about 2.67% over the past week, which means that is the percent of its available money supply that is traded daily. Its trading turnover percentage is higher than about 50.52% of the coins we’re tracking, so it’s middle-of-the-pack; investors/traders may thus wish to consider their liquidity requirements to make sure the coin matches their needs and their expected trading volume.
Engagement Update
Over the past week, Dai saw its holders go from 22,981 to 23,954, an increase of 4.23%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 974,899 to 1,065,497, which translates to growth of 9.29% for the week. This translates to a combined engagement growth rate of 13.52% for Dai — which is higher than 88.57% 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
At the moment, Maker has 60 repositories open to the public on GitHub, with the oldest one now being 3.7 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 public repositories collectively have a total of 938 watchers, which is pretty good, relatively speaking; specifically, that’s more than 64 % of the top 100 coins we’re looking at. The coin has 68 outstanding issues in the backlog awaiting to be addressed by the core development team. Its number of watchers, when viewed against its open issues count, seems to be in good shape. To elaborate: the ratio of open issues to developers who are watching Maker’s GitHub repos is more favorable than 62% of similar coins in our index.
Dai News and Commentary
The top theme being discussed about Dai in the past week is listed below. Where available, we included a snippet of the article that we thought might be interesting.
Fee Has Successfully Stabilized DAI, MakerDAO Presid
Snippet:
According to Becker, DAI is now stable thanks to the community’s implementation of the stability fee.
Where to Buy
You can trade Dai, listed under the symbol DAI, through the following exchanges: Gate, Yobit, DDEX, Ethfinex.
Article by SixJupiter
