How Did REN’s Price Fare Yesterday?
REN is up by approximately 2.61% from the previous day, with its price currently hovering around $0.05619 USD. The up day for REN yesterday was a reversal from the day before it, which puts its price at 2.01% above its 20 day moving average. Over the past two weeks, price has been in a unclear trend. In terms of an expected trading range, the Bollinger bands on REN suggest price may bounce between $0.04644 and $0.06373 based on its momentum and volatility over the past 14 days. As we are closer to the top of that range, rangebound traders may wish to consider exploring selling opportunities.
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The market capitalization of REN, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $44 million.
Unusual Developments
Yesterday, the metrics holders added saw a daily change well outside what is usually experienced. An exploration as to what caused this may be worthwhile.
Straight Off the Chain
Over the past 24 hours, 224 transfers have been added to the blockchain recording transactions amongst holders of REN. In terms of estimating the number of holders, over the past day the total number of wallets holding REN has gone up by approximately 29. To provide context, we’d rank this token as 10 out of the 34 Ethereum tokens in our index based on percentage growth in engagement over the past 7 days.
How are the Strong Holders of REN Faring?
In terms of wealth concentration, the richest 1,000 wallets own 96.62% of the coin’s total money supply. 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 3.35% of the currency’s total money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.1%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.14%. As for the REN’s smart contract itself, that owns 0.01% of the total money supply, an amount unchanged from the week prior.
How Much Development is Occurring?
REN has been active recently on its GitHub repos, with its most recent code updates occurring today, October 21, 2019. Over the past 30 days, we’ve seen no growth in open issues or in the number of watchers on GitHub. This may suggest GitHub is not being used, or the code is not being maintained.
REN’s Social Media Presence
Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow REN on Twitter.
Where to Buy
You can trade Republic Protocol, listed under the symbol REN, through the following exchanges: Yobit, Binance, DDEX.
Article by SixJupiter
