Price Action
Since last week, Paxos Standard’s price went up by 0.8%. It is above its 20 day moving average by 0.81%, which is quite close. Paxos Standard’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. Regarding volatility, Paxos Standard is more volatile than roughly 0% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Based on volatility over the past three weeks, we can expect Paxos Standard to experience a price range in US dollars between 0.9942722 and $1.005538.
Where to trade Paxos Standard (symbol: PAX): Gate, Yobit, Binance, DDEX, Ethfinex
Volume Update
In the week prior, the daily volume for Paxos Standard Token has ranged between 45,591 and 3,167,638 currency units. In the three weeks prior, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. Paxos Standard Token experienced a turnover rate of about 0.87% over the past week, which means that is the percent of its available money supply that is traded daily. This turnover rate is higher than approximately 30.39% of the cryptocurrencies we monitor, which means it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.
Engagement Update
The number of wallets holding Paxos Standard went from 16,197 to 18,066 in the past week, marking a change of 11.54%. As for overall transactions, they increased from 128,720 to 141,011 — an increase of 9.55%. Paxos Standard’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 21.09% which puts it ahead of 93.94% of the coins in our index. One interpretation of this may be that the coin may be on track to getting and sustaining actual usage.
Technology Development Status
At the moment, Paxos Standard Token has 30 repositories open to the public on GitHub, with the oldest one now being 2.54 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. Paxos Standard Token’s public repositories collectively have a total of 19 watchers, which is below average relative to its peers; that’s more than only 35 % of the 100 similar coins in our index. The coin has 1 outstanding issues in the backlog awaiting to be addressed by the core development team. In comparison to the number of watchers it has, though, 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 63% 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
