Price Action
Over the past week, Nebulas saw its price go down by -11.77%. It is above its 20 day moving average by 18.16%, so it’s a bit of a ways off. Nebulas’s bullish momentum, determined by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. Now when considering volatility, Nebulas is more prone to sizable price moves than 94% of coins in our index, so bear that in mind if you decide to trade it. 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 $0.7152983 and $1.872812.
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 704,744 and 40,896,794. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. Over the past week, Nebulas saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 23.44%. Its trading turnover percentage is higher than about 89.8% of the coins we’re tracking, so it’s far above average and thus a good coin for those interested in active trading or being able to get out of the market if they need to.
Engagement Update
Nebulas saw the number of wallets holding its coin go from 14,967 to 14,937 over the past week — a change of -0.20%. And in regards to cumulative transactions logged on the blockchain, they went from 98,602 to 98,725, which amounts to a change of 0.12%. Nebulas’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is -0.08% which puts it ahead of 2.94% of the coins in our index. One interpretation of this may be that the coin’s usage is not growing much at all.
Technology Development Status
Nebulas currently has 30 public repos on GitHub, with the oldest one clocking in at 1.9 years young. The last recorded update to its public 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 1079 watchers — specifically, that’s more than 75 % of the top 100 coins we’re looking at. The coin has 87 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, is fairly mediocre. We consider the GitHub open issue/watcher ratio as a potential indicator of the healthiness of a coin’s software development process, and for Nebulas we see that its issue/watcher ratio looks healthier than 56% of similar coins in our index.
Article by SixJupiter
