Price Action
Since last week, Loom Network’s price went up by 2.71%. It is above its 20 day moving average by 9.69%, so it’s somewhat away. Loom Network’s bullish momentum, if assessed by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Regarding volatility, Loom Network is more volatile than roughly 69% of coins in our index, so traders can expect a bit more volatility than usual. Based on volatility over the past three weeks, we can expect Loom Network to experience a price range in US dollars between 0.05794278 and $0.08567922.
Where to trade Loom Network (symbol: LOOM): Gate, Yobit, Binance, DDEX
Volume Update
Over the past week, Loom Network saw its daily volume range between 6,770,029 and 24,751,210 units of its own currency. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. Loom Network experienced a turnover rate of about 1.86% 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 44.21% 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, Loom Network saw its holders go from 8,533 to 8,608, an increase of 0.88%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 116,580 to 118,128, which translates to growth of 1.33% for the week. This translates to a combined engagement growth rate of 2.21% for Loom Network — which is higher than 58.33% of the cryptocurrencies we’re reporting on. This could indicate that the coin’s weekly growth in engagement is fairly mediocre.
Technology Development Status
Loom Network currently has 30 public repositories on GitHub, with the oldest one now 1.65 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. Loom Network’s repos that are visible to the public collectively have 931 watchers — specifically, that’s more than 68 % of the top 100 coins we’re looking at. The coin has 173 issues reported across its public repositories. 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 Loom Network’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 Loom Network we see that it fares better than only 34% of the coins we group Loom Network in.
Where to Buy
You can trade Loom Network, listed under the symbol LOOM, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
