Decentraland (MANA) June 10, 2019 Week In Review: Price Up 7.94%

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Price Action

In the week prior, the price for Decentraland went up by 7.94%. It is above its 20 day moving average by 0.77%, which is quite close. 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 25% 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 $0.05215689 and $0.06466211.

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

Volume Update

In the span of the preceding 7 days, Decentraland’s daily volume, in terms of its own unit of currency, has fluctuated between 38,880,668 and 108,713,546. Over the past three weeks, volume has steadily declined, but the trend in price is not as clear one way or the other. Decentraland experienced a turnover rate of about 6.53% 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 72.16% of the coins we’re tracking, so it’s above average and thus will have enough liquidity for many investors/traders.

Engagement Update

Over the past week, Decentraland saw its holders go from 27,041 to 27,245, an increase of 0.75%. As for overall transactions, they increased from 322,518 to 325,561 — an increase of 0.94%. This translates to a combined engagement growth rate of 1.69% for Decentraland — which is higher than 51.43% of the cryptocurrencies we’re reporting on. This could indicate that the coin’s weekly growth in engagement is fairly mediocre.

Technology Development Status

Decentraland currently has 30 public repositories on GitHub, with the oldest one now 2.45 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. Decentraland’s public repositories collectively have a total of 411 watchers, which is about average compared to other similar coins; that’s more than approximately 51 % of coins in its index. The coin has 133 issues reported across its public repositories. Its number of watchers, when viewed against 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 17 % 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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