May 7, 2020: 0x (ZRX): Up 16.3%; 3rd Straight Up Day


How Did 0x’s Price Fare Yesterday?

0x’s current price, at the time of this writing, is $0.244 USD, up by approximately 16.3% from the day prior. This marked the the 3rd consecutive day 0x has been up; it is still in an uptrend, and is currently 24.23% above its 20 day moving average; staying above this level may be critical to sustain short-term momentum. From another vantage point, note that price has gone up 3 of the past 5 days. Another data point we may find worthy of observation is that price for 0x has increased 3 of the previous 5 days.

Traders looking for a range to trade within may wish to note that the Bollinger bands (a price indicator based on recent momentum and volatility) for 0x imply the currency may oscillate between $0.167964 and $0.224846, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain shorting, as we are nearer to the top of the range.

The market capitalization of 0x, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $159 million.

Straight Off the Chain

2,904 transactions amongst holders of 0x occurred yesterday. As for the number of holders, yesterday saw the number of wallets holding 0x increase by 469. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.1, with 979 wallets making a transfer this past day and 9,765 wallets having made a transfer in the past month.

How are the Strong Holders of 0x Faring?

In terms of wealth concentration, the richest 1,000 wallets own 136.15% of the coin’s total money supply. This number is greater than 100% because many of the token holders are not able to sell them yet, and thus their numbers are not included in the supply yet, though they can be regarded as future sellers when they are able to sell. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 7.41% of the currency’s money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.22%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 0.58%. 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

Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Here is the Twitter page for 0x.

Article by SixJupiter

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