Golem Network Token (GNT) July 1, 2019 Week In Review: Price Down 2.09%

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Price Action

In the week prior, the price for Golem Network Token went down by -2.09%. It is below its 20 day moving average by 2.93%, so it’s fairly close. Golem Network Token’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. In terms of volatility, Golem Network Token exhibits greater price volatility than approximately 7% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Based on volatility over the past three weeks, we can expect Golem Network Token to experience a price range in US dollars between 0.09050551 and $0.1042805.

Where to trade Golem (symbol: GNT): Gate, Yobit, Binance, Ethfinex

Volume Update

In the span of the preceding 7 days, Golem’s daily volume, in terms of its own unit of currency, has fluctuated between 3,661,146 and 46,024,699. In the three weeks prior, the trend in volume does not have a clear direction, while the price trend is clearly down. Golem experienced a turnover rate of about 1.79% over the past week, which means that is the percent of its available money supply that is traded daily. Its turnover rate is more than approximately 46.08% 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 101,350 to 101,470 in the past week, marking a change of 0.12%. And in regards to cumulative transactions logged on the blockchain, they went from 910,677 to 914,074, which amounts to a change of 0.37%. This translates to a combined engagement growth rate of 0.49% for Golem Network Token — which is higher than 15.15% of the cryptocurrencies we’re reporting on. One interpretation of this may be that 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 3.62 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. Golem’s public repos now have 2838 which is very impressive; that’s more than 91 % of the top 100 coins we compare it to. The coin has 566 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 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 33% 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

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