Price Action
In the week prior, the price for Golem Network Token went up by 0.34%. It is below its 20 day moving average by 11.15%, so it’s a bit of a ways off. 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. Now when considering volatility, Golem Network Token is more prone to sizable price moves than 71% of coins in our index, so traders can expect a bit more volatility than usual. If volatility over the past three weeks is any indication of what’s to come, we can expect Golem Network Token to bounce between 0.06367131 and $0.09639269 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 19,394,736. In the three weeks prior, the trend in volume does not have a clear direction, while the price trend is clearly down. The past 7 days saw Golem’s trading turnover — meaning the percentage of its available supply that was traded — come in at 1.33%. Its turnover rate is more than approximately 45.83% 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
Over the past week, Golem Network Token saw its holders go from 100,697 to 100,786, an increase of 0.09%. And in regards to cumulative transactions logged on the blockchain, they went from 891,917 to 894,570, which amounts to a change of 0.30%. 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 15.62% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin’s usage is not growing much at all.
Technology Development Status
Golem currently has 30 public repos on GitHub, with the oldest one clocking in at 3.47 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 repos that are visible to the public collectively have 2870 watchers — that’s more than 89 % of the top 100 coins we compare it to. The coin has 629 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 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
