Price Action
Since last week, Golem Network Token’s price went down by -2.68%. It is below its 20 day moving average by 1.78%, so it’s fairly close. Golem Network Token’s bullish momentum, based on 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. Regarding volatility, Golem Network Token is more volatile than roughly 21% 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 Golem Network Token to bounce between 0.06780243 and $0.07947957 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 3,563,715 and 20,427,204. Over the past three weeks, the trend in volume does not have a clear direction, while the price trend is clearly down. Golem experienced a turnover rate of about 1.4% 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 38.78% of the cryptocurrencies in our index, 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
The number of wallets holding Golem Network Token went from 100,786 to 100,866 in the past week, marking a change of 0.08%. As for overall transactions, they increased from 894,570 to 895,812 — an increase of 0.14%. This translates to a combined engagement growth rate of 0.22% for Golem Network Token — which is higher than 16.67% of the cryptocurrencies we’re reporting on. This growth rate suggests the coin’s usage is not growing much at all.
Technology Development Status
Golem currently has 30 public repositories on GitHub, with the oldest one now 3.48 years young. The last recorded update to its public 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 2802 watchers, which is very impressive; that’s more than 88 % of the top 100 coins we compare it to. The coin has 625 total outstanding issues across all 30 of its public repositories on GitHub. Its number of watchers, when viewed against 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 32% of the coins we group Golem in.
Golem News and Commentary
Over the past week, we found one link about Golem that we thought was particularly interesting. If available, we added an excerpt from the article to help give a taste of what it is about.
Golem — New listing on Loopex – Loopex
Key Extract:
The Golem network pools global computing power and enables users to access these resources with GNT….Golem (GNT) is a peer-to-peer decentralized marketplace for computing power.
Where to Buy
You can trade Golem, listed under the symbol GNT, through the following exchanges: Gate, Yobit, Binance, Ethfinex.
Article by SixJupiter
