Price Action
Over the past week, Dai saw its price go up by 0.09%. It is above its 20 day moving average by 0.28%, 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. Regarding volatility, Dai is more volatile than roughly 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 0.9791638 and $1.015246 US dollars per coin.
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 292,651.8 and 1,568,543. Looking back over past 21 days, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. Dai experienced a turnover rate of about 1.24% over the past week, which means that is the percent of its available money supply that is traded daily. Its turnover rate is more than approximately 39.39% 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
Dai saw the number of wallets holding its coin go from 23,954 to 24,331 over the past week — a change of 1.57%. As for overall transactions, they increased from 1,065,497 to 1,112,987 — an increase of 4.46%. This translates to a combined engagement growth rate of 6.03% for Dai — which is higher than 86.11% of the cryptocurrencies we’re reporting on. One interpretation of this may be 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 3.72 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. Maker’s public repositories collectively have a total of 964 watchers, which is pretty good, relatively speaking; specifically, that’s more than 63 % of the top 100 coins we’re looking at. The coin has 70 issues reported across its public repositories. 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 61% of similar coins in our index.
Dai News and Commentary
The top 2 themes being discussed about Dai in the past week are listed below. If available, we added an excerpt from the article to help give a taste of what it is about.
Dai (DAI) is now available on Coinbase – The Coinb
Mosendo integrates with Connext – Connext
Where to Buy
You can trade Dai, listed under the symbol DAI, through the following exchanges: Gate, Yobit, DDEX, Ethfinex.
Article by SixJupiter
