Decentraland (MANA) April 26, 2019 Week In Review: Price Down 16.71%

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Price Action

Over the past week, Decentraland saw its price go down by -16.71%. It is below its 20 day moving average by 11.64%, so it’s somewhat away. Decentraland’s bullish momentum, if assessed by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Regarding volatility, Decentraland is more volatile than roughly 26% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Decentraland in US dollars is expected to be between $0.0484855 and $0.0618395.

Where to trade Decentraland (symbol: MANA): Gate, Binance, DDEX

Volume Update

In the week prior, the daily volume for Decentraland has ranged between 38,072,917 and 115,652,908 currency units. Looking back over past 21 days, volume has steadily risen, but price has been declining. Decentraland experienced a turnover rate of about 6.48% 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 73.2% of the coins we’re tracking, so it’s above average and thus will have enough liquidity for many investors/traders.

Engagement Update

The number of wallets holding Decentraland went from 24,487 to 24,916 in the past week, marking a change of 1.75%. As for overall transactions, they increased from 299,980 to 302,485 — an increase of 0.84%. This translates to a combined engagement growth rate of 2.59% for Decentraland — which is higher than 76.47% of the cryptocurrencies we’re reporting on. One interpretation of this may be that the coin’s engagement is growing at an above average rate.

Technology Development Status

Decentraland currently has 30 public repos on GitHub, with the oldest one clocking in at 2.33 years young. The last recorded update to its public repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Decentraland’s public repositories collectively have a total of 402 watchers, which is about average compared to other similar coins; that’s more than approximately 43 % of coins in its index. The coin has 145 issues reported across its public repositories. In comparison to the number of watchers it has, though, its open issues count is quite poor, and may potentially indicate some concern that the software is at risk of not being updated fast enough. Our hypothesis that the open issue/watcher ratio may be of some value in assessing the healthiness of a coin’s software development process, and for Decentraland, this ratio was better than a mere 12 % of the similar coins we track in our index.

Where to Buy

You can trade Decentraland, listed under the symbol MANA, through the following exchanges: Gate, Binance, DDEX.

Article by SixJupiter

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