Price Action
Over the past week, Golem Network Token saw its price go up by 14.08%. It is below its 20 day moving average by 10.56%, so it’s somewhat away. 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 85% of coins in our index, so bear that in mind if you decide to trade it. If volatility over the past three weeks is any indication of what’s to come, we can expect Golem Network Token to bounce between 0.04529668 and $0.1050333 US dollars per coin.
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 1,172,083 and 14,983,827. 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 0.6%. Its trading turnover percentage is higher than about 33% of the coins we’re tracking, so it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.
Engagement Update
Golem Network Token saw the number of wallets holding its coin go from 102,026 to 102,216 over the past week — a change of 0.19%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 918,482 to 920,345, which translates to growth of 0.20% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Golem Network Token is thus at 0.39% which, relatively speaking, is ahead of 67.91% 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 repos on GitHub, with the oldest one clocking in at 3.68 years young. Its last public update to any of its repositories was within the past week which is not bad, as the coin is still being updated routinely. Golem’s public repositories collectively have a total of 2842 watchers, which is very impressive; that’s more than 89 % of the top 100 coins we compare it to. The coin has 563 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 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 29% 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
