Price Action
In the week prior, the price for Nebulas went down by -1.75%. It is below its 20 day moving average by 3.36%, so it’s fairly close. Nebulas’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. In terms of volatility, Nebulas exhibits greater price volatility than approximately 35% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Nebulas in US dollars is expected to be between $1.361779 and $1.767521.
Volume Update
In the span of the preceding 7 days, Nebulas’s daily volume, in terms of its own unit of currency, has fluctuated between 307,204 and 3,053,114. In the three weeks prior, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. The past 7 days saw Nebulas’s trading turnover — meaning the percentage of its available supply that was traded — come in at 3.62%. Its trading turnover percentage is higher than about 63.73% of the coins we’re tracking, so it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
The number of wallets holding Nebulas went from 14,906 to 14,903 in the past week, marking a change of -0.02%. And in regards to cumulative transactions logged on the blockchain, they went from 98,849 to 98,903, which amounts to a change of 0.05%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Nebulas is thus at 0.03% which, relatively speaking, is ahead of 2.94% of the cryptocurrencies we’re tracking. This growth rate suggests the coin’s usage is not growing much at all.
Technology Development Status
At the moment, Nebulas has 30 repositories open to the public on GitHub, with the oldest one now being 1.96 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. Nebulas’s repos that are visible to the public collectively have 1006 watchers — specifically, that’s more than 69 % of the top 100 coins we’re looking at. The coin has 69 outstanding issues in the backlog awaiting to be addressed by the core development team. Its number of watchers, when viewed against its open issues count, seems to be in good shape. To elaborate: the ratio of open issues to developers who are watching Nebulas’s GitHub repos is more favorable than 62% of similar coins in our index.
Article by SixJupiter
