May 8, 2020: 0x (ZRX): Up 5.03%; 4th Consecutive Up Day

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0x: What’s the Latest Regarding its Price?

At the time of this writing, 0x has a price of $0.3153 USD, which puts it up by approximately 5.03% from yesterday. This marked the the 4th consecutive day 0x has been up; it is still in an uptrend, and is currently 53.05% 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 7 of the previous 10 days. And in terms of volume, yesterday’s price move ocurred on volume that was 85.21% greater than its 7 day average volume.

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 $0.129713 and $0.282297, 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 $206 million.

Straight Off the Chain

Over the past 24 hours, 7,149 transfers have been added to the blockchain recording transactions amongst holders of 0x. As for the number of holders, yesterday saw the number of wallets holding 0x increase by 1057. To understand loyalty or repeat usage amongst holders of 0x, we can note that there were 2,078 wallets making a transaction yesterday, while 11,116 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.19.

Observing 0x’s Richest Wallets

As for wealth distribution, the richest 1,000 wallets currently own 136.03% of the money supply. To further clarify, our supply metric focuses only on supply that is publicly available while many large holders may have tokens they are not able to sell yet — which is why this value can exceed 100%. 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 7.37% 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 -0.38% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.04%. 0x’s smart contract owns approximately 0.02% of its own total money supply. This amount hasn’t changed over the past week.

The Latest on 0x and Social Media

If you are interested in following 0x on social media, Twitter, where it has 152,381 following it, may be a good place to start. You can follow 0x on Twitter here.

Article by SixJupiter

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