In the week prior, the price for Huobi Token went up by 8.1%. It is above its 20 day moving average by 10.59%, so it’s somewhat away. Huobi Token’s bullish momentum, determined by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. In terms of volatility, Huobi Token exhibits greater price volatility than approximately 49% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. Based on volatility over the past three weeks, we can expect Huobi Token to experience a price range in US dollars between 3.195478 and $4.215522.
In the span of the preceding 7 days, Huobi Token’s daily volume, in terms of its own unit of currency, has fluctuated between 268.27 and 1,823,111. Over the past three weeks, volume has trended downwards, but price has gone in the opposite direction — up. Huobi Token experienced a turnover rate of about 0.68% 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 23.53% 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.
Huobi Token saw the number of wallets holding its coin go from 7,507 to 7,566 over the past week — a change of 0.79%. And in regards to cumulative transactions logged on the blockchain, they went from 271,234 to 274,707, which amounts to a change of 1.28%. This translates to a combined engagement growth rate of 2.07% for Huobi Token — which is higher than 57.58% of the cryptocurrencies we’re reporting on. One interpretation of this may be that the coin’s weekly growth in engagement is fairly mediocre.
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Article by SixJupiter