January 24, 2020: Hydro Protocol (HOT): Down 33.83%; Surprising Moves In Price; Price Crosses 20 Day Average

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How Did Hydro Protocol’s Price Fare Yesterday?

Hydro Protocol’s current price, at the time of this writing, is $0.001369 USD, down by approximately 33.83% from the day prior. The down day for Hydro Protocol yesterday was a reversal from the day before it, which puts its price at 9.43% below its 20 day moving average. Over the past two weeks, price has been in a unclear trend. In terms of an expected trading range, the Bollinger bands on Hydro Protocol suggest price may bounce between $0.000931 and $0.002092 based on its momentum and volatility over the past 14 days. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.

Get your analysis of Hydro Protocol (HOT) here on CryptoCoin.news. And for daily analysis and recaps of the 5 major cryptocurrencies, visit CFDTrading.com.

The currency’s market cap currently stands at $104 million US dollars.

Unusual Developments

Yesterday, the metrics price saw a daily change well outside what is usually experienced. An exploration as to what caused this may be worthwhile.

Update on Transactions and Holders

Over the past 24 hours, no transfers have been added to the blockchain recording transactions amongst holders of Hydro Protocol. As for the number of holders, yesterday saw the number of wallets holding Hydro Protocol decline by 0. To provide context, we’d rank this token as 4 out of the 30 Ethereum tokens in our index based on percentage growth in engagement over the past 7 days.

Just How Rich are Hydro Protocol’s Richest Holders?

The top 1,000 Hydro Protocol wallets hold over 59.97% of the token’s total money supply. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 14.52% of the currency’s total money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by 0% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0%. Hydro Protocol’s smart contract owns approximately 0% of its own total money supply. This amount hasn’t changed over the past week.

How Much Development is Occurring?

In terms of how active the software development team working on Hydro Protocol is, it may be worth observing that the last time any work pertaining to code was done on their GitHub code repository was on January 20, 2020, or approximately 4 days before. To understand how code development is progressing, we can observe growth rates over the past 30 days in the number of open issues and the number of watchers: open issuers have been growing at about 0.13 per day, while the number of followers watching Hydro Protocol’s repositories is growing by 0.07.

Hydro Protocol’s Social Media Presence

Traders interested in following Hydro Protocol has the biggest presence on Facebook, where it has 0 users engaged.

Where to Buy

You can trade Hydro Protocol, listed under the symbol HOT, through the following exchanges: Gate, Yobit, Binance, DDEX, Ethfinex.

Article by SixJupiter

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