Price Action
Since last week, Golem Network Token’s price went down by -16.64%. It is below its 20 day moving average by 17.59%, so it’s a bit of a ways off. Golem Network Token’s bullish momentum, if assessed by 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. Now when considering volatility, Golem Network Token is more prone to sizable price moves than 54% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Golem Network Token in US dollars is expected to be between $0.07428814 and $0.1044029.
Where to trade Golem (symbol: GNT): Gate, Yobit, Binance, Ethfinex
Volume Update
In the week prior, the daily volume for Golem has ranged between 13,119,403 and 27,911,660 currency units. In the three weeks prior, the trend in volume does not have a clear direction, while the price trend is clearly down. Over the past week, Golem saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 2.05%. Its turnover rate is more than approximately 50.52% of the cryptocurrencies in our index, so it’s middle-of-the-pack; investors/traders may thus wish to consider their liquidity requirements to make sure the coin matches their needs and their expected trading volume.
Engagement Update
The number of wallets holding Golem Network Token went from 100,737 to 100,697 in the past week, marking a change of -0.04%. And in regards to cumulative transactions logged on the blockchain, they went from 890,409 to 891,917, which amounts to a change of 0.17%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Golem Network Token is thus at 0.13% which, relatively speaking, is ahead of 17.65% of the cryptocurrencies we’re tracking. This growth rate suggests the coin’s usage is not growing much at all.
Technology Development Status
At the moment, Golem has 30 repositories open to the public on GitHub, with the oldest one now being 3.44 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. Golem’s public repos now have 2872 which is very impressive; that’s more than 89 % of the top 100 coins we compare it to. The coin has 631 issues reported across its public repositories. Relative to the number of watchers it has, though, its open issues count is a bit below average, and thus potentially concerning. We view the ratio of open issues on Golem’s GitHub repos relative to the number of developers who follow its repos as a way to quantitatively assess the health of a coin’s software development processes, and for Golem we see that it fares better than only 31% of the coins we group Golem in.
Where to Buy
You can trade Golem, listed under the symbol GNT, through the following exchanges: Gate, Yobit, Binance, Ethfinex.
Article by SixJupiter
