Price Action
Over the past week, Nebulas saw its price go up by 16.3%. It is above its 20 day moving average by 20.25%, so it’s a bit of a ways off. Nebulas’s bullish momentum, if assessed by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. Regarding volatility, Nebulas is more volatile than roughly 88% 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 $1.037098 and $1.930102.
Volume Update
In the week prior, the daily volume for Nebulas has ranged between 551,026 and 2,697,071 currency units. Looking back over past 21 days, the trend in volume is not clear, though price is marching upwards. The past 7 days saw Nebulas’s trading turnover — meaning the percentage of its available supply that was traded — come in at 3.09%. This turnover rate is higher than approximately 62% of the cryptocurrencies we monitor, which means it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
The number of wallets holding Nebulas went from 14,939 to 14,920 in the past week, marking a change of -0.13%. As for overall transactions, they increased from 98,719 to 98,788 — an increase of 0.07%. Nebulas’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is -0.06% which puts it ahead of 3.03% 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 repositories on GitHub, with the oldest one now 1.92 years young. Its last public update to any of its repositories was within the past week which is not bad, as the coin is still being updated routinely. Nebulas’s public repositories collectively have a total of 1083 watchers, which is pretty good, relatively speaking; specifically, that’s more than 67 % of the top 100 coins we’re looking at. The coin has 86 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 55% of similar coins in our index.
Article by SixJupiter
