Golem Network Token (GNT) July 15, 2019 Weekly Recap: Price Down 36.77%

Golem Network Token (gnt) July 22, 2019 Weekly Recap: Price Up 14.08%
Golem Network Token (gnt) July 22, 2019 Weekly Recap: Price Up 14.08%
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Price Action

Over the past week, Golem Network Token saw its price go down by -36.77%. It is below its 20 day moving average by 32.56%, so it’s very far away. Golem Network Token’s bullish momentum, if assessed by its distance from its 20 day moving average, is among the worst compared to other cryptocurrencies, and thus may indicate the coin has swung too far and too fast — and may thus be due for consolidation or a bullish correction. In terms of volatility, Golem Network Token exhibits greater price volatility than approximately 75% of coins in our index, so traders can expect a bit more volatility than usual. 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 $0.06416833 and $0.1106047.

Where to trade Golem (symbol: GNT): Gate, Yobit, Binance, Ethfinex
October 16, 2019: Enjin Coin (enj): Down 4.72%; Price Crosses 20 Day Average; 2nd Straight Down Day

Volume Update

In the week prior, the daily volume for Golem has ranged between 1,251,532 and 19,866,418 currency units. 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 0.95% 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 41.18% of the coins we’re tracking, 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

Golem Network Token saw the number of wallets holding its coin go from 101,668 to 102,026 over the past week — a change of 0.35%. As for overall transactions, they increased from 915,421 to 918,482 — an increase of 0.33%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Golem Network Token is thus at 0.68% which, relatively speaking, is ahead of 68.49% of the cryptocurrencies we’re tracking. This growth rate suggests the coin’s engagement is growing at an above average rate.

Technology Development Status

Golem currently has 30 public repositories on GitHub, with the oldest one now 3.66 years young. The last recorded update to its public 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 2842 which is very impressive; that’s more than 90 % of the top 100 coins we compare it to. The coin has 557 outstanding issues in the backlog awaiting to be addressed by the core development team. 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 34% 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. October 16, 2019: Enjin Coin (enj): Down 4.72%; Price Crosses 20 Day Average; 2nd Straight Down Day

Article by SixJupiter