Decentraland (MANA) May 27, 2019 Weekly Recap: Price Up 14.18%

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Price Action

Since last week, Decentraland’s price went up by 14.18%. It is above its 20 day moving average by 12.68%, so it’s somewhat away. Decentraland’s bullish momentum, based on its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Now when considering volatility, Decentraland is more prone to sizable price moves than 33% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. If volatility over the past three weeks is any indication of what’s to come, we can expect Decentraland to bounce between 0.04593951 and $0.06396949 US dollars per coin.

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

Volume Update

Over the past week, Decentraland saw its daily volume range between 24,781,104 and 163,332,836 units of its own currency. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. The past 7 days saw Decentraland’s trading turnover — meaning the percentage of its available supply that was traded — come in at 9.71%. Its turnover rate is more than approximately 85.86% of the cryptocurrencies in our index, so it’s far above average and thus a good coin for those interested in active trading or being able to get out of the market if they need to.

Engagement Update

Over the past week, Decentraland saw its holders go from 26,806 to 27,068, an increase of 0.98%. And in regards to cumulative transactions logged on the blockchain, they went from 314,511 to 318,165, which amounts to a change of 1.16%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Decentraland is thus at 2.14% which, relatively speaking, is ahead of 58.33% of the cryptocurrencies we’re tracking. This could indicate that the coin’s weekly growth in engagement is fairly mediocre.

Technology Development Status

At the moment, Decentraland has 30 repositories open to the public on GitHub, with the oldest one now being 2.42 years young. Its last public update to any of its 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 411 watchers, which is about average compared to other similar coins; that’s more than approximately 43 % of coins in its index. The coin has 134 total outstanding issues across all 30 of its public repositories on GitHub. 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 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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