Price Action
In the week prior, the price for Paxos Standard went up by 0.99%. It is above its 20 day moving average by 1.64%, which is quite close. Paxos Standard’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, Paxos Standard is more prone to sizable price moves than 2% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Paxos Standard in US dollars is expected to be between $0.9886449 and $1.018375.
Where to trade Paxos Standard (symbol: PAX): Gate, Yobit, Binance, DDEX, Ethfinex
Volume Update
Over the past week, Paxos Standard Token saw its daily volume range between 50.17 and 386,789.8 units of its own currency. In the three weeks prior, the trend in volume is not clear, though price is marching upwards. Over the past week, Paxos Standard Token saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.12%. This turnover rate is higher than approximately 12.37% of the cryptocurrencies we monitor, which means it’s well below average; this coin may be hard to get into and out of, and thus is suitable only for those interested in holding and exiting slowly and patiently.
Engagement Update
The number of wallets holding Paxos Standard went from 5,798 to 5,839 in the past week, marking a change of 0.71%. As for overall transactions, they increased from 64,683 to 65,590 — an increase of 1.40%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Paxos Standard is thus at 2.11% which, relatively speaking, is ahead of 73.53% of the cryptocurrencies we’re tracking. This could indicate that the coin’s engagement is growing at an above average rate.
Technology Development Status
Paxos Standard Token currently has 30 public repositories on GitHub, with the oldest one now 2.36 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. Paxos Standard Token’s public repositories collectively have a total of 64 watchers, which is very bad on a relative basis; it bests only 11 % of the 100 similar coins in our index. The coin has 3 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 Paxos Standard Token’s GitHub repos is more favorable than 74% of similar coins in our index.
Where to Buy
You can trade Paxos Standard, listed under the symbol PAX, through the following exchanges: Gate, Yobit, Binance, DDEX, Ethfinex.
Article by SixJupiter
