May 11, 2020: 0x (ZRX): Down 6.86%; 2nd Consecutive Down Day

May 11, 2020: 0x (zrx): Down 6.86%; 2nd Consecutive Down Day
May 11, 2020: 0x (zrx): Down 6.86%; 2nd Consecutive Down Day

How Did 0x’s Price Fare Yesterday?

At the time of this writing, 0x has a price of $0.3707 USD, which puts it down by approximately 6.86% from yesterday. This marked the the 2nd straight day 0x has been down; it is still in an uptrend, and is currently 51.81% above its 20 day moving average; staying above this level may be critical to sustain short-term momentum. Another data point we may find worthy of observation is that price for 0x has increased 3 of the previous 5 days. And in terms of volume, yesterday’s price move ocurred on volume that was 75.51% less than its 7 day average volume.

As for 0x’s expected trading range — as forecasted by the Bollinger bands indicator, which determines a range based on momentum and volatility over the past two weeks — is between $0.067344 and $0.421016. As we are closer to the top of that range, rangebound traders may wish to consider exploring selling opportunities.

May 11, 2020: 0x (zrx): Down 6.86%; 2nd Consecutive Down Day

As for 0x’s market cap, it is currently at about $244M US dollars.

Update on Transactions and Holders

5,823 transactions amongst holders of 0x occurred yesterday. Regarding a tally of holders, Yesterday saw 0x’s wallet count jump by 733. To understand loyalty or repeat usage amongst holders of 0x, we can note that there were 2,152 wallets making a transaction yesterday, while 16,236 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.13.

How are the Strong Holders of 0x Faring?

And in regards to wealth distribution, note that the top 1,000 0x wallets hold over 135.94% of the token’s total money supply. Incidentally, this value exceeds 100% because many owners are not yet able to sell (due to contractual provisions), and our supply metric only observes liquid 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 7.17% of the currency’s total money supply. Exchange ownership grew by -0.14% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.4% over that time period. As for the 0x’s smart contract itself, that owns 0.02% of the total money supply, an amount unchanged from the week prior.

The Latest on 0x and Social Media

If you are interested in following 0x on social media, Twitter, where it has 152,748 following it, may be a good place to start. Use this link to follow 0x on Twitter. May 11, 2020: 0x (zrx): Down 6.86%; 2nd Consecutive Down Day

Article by SixJupiter