Decentraland (MANA) May 6, 2019 Weekly Summary: Price Up 0.1%

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Price Action

Over the past week, Decentraland saw its price go up by 0.1%. It is below its 20 day moving average by 6.45%, so it’s slightly 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 0.04577053 and $0.05826347 US dollars per coin.

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 26,077,742 and 98,792,884. Looking back over past 21 days, the trend in volume does not have a clear direction, while the price trend is clearly down. Over the past week, Decentraland saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 7.45%. Its trading turnover percentage is higher than about 80.21% of the coins we’re tracking, 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 24,916 to 25,318, an increase of 1.61%. As for overall transactions, they increased from 302,485 to 306,573 — an increase of 1.35%. This translates to a combined engagement growth rate of 2.96% for Decentraland — which is higher than 56.25% 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 2.36 years young. Its most recent public update was within the past week which is not bad, as the coin is still being updated routinely. Decentraland’s repos that are visible to the public collectively have 406 watchers — that’s more than approximately 41 % of coins in its index. The coin has 148 outstanding issues in the backlog awaiting to be addressed by the core development team. Relative 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 10 % of the similar coins we track in our index.

Decentraland News and Commentary

We found one link over the past week about Decentraland that we thought was especially worth sharing. If possible we included a brief excerpt from the article — be sure to click through for the entire piece.

Decentraland(MANA) gets listed on OMGFIN! – Omgfin Exchange

Excerpt:

Decentraland is a virtual reality platform powered by the Ethereum blockchain….Decentraland (MANA) is now available on OMGFIN, you can deposit and withdrawal Decentraland (MANA) now….OMGFIN attempts to screen all tokens before they come to market, however, even with the best due diligence there are still risks when investing.

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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