Price Action
In the week prior, the price for Paxos Standard went up by 0.4%. It is above its 20 day moving average by 0.15%, which is quite close. Paxos Standard’s bullish momentum, based on its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. 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. 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 $0.9932268 and $1.005763.
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 127.03 and 402,977 currency units. Looking back over past 21 days, the trend in volume does not have a clear direction, while the price trend is clearly down. The past 7 days saw Paxos Standard Token’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.07%. Its trading turnover percentage is higher than about 10.78% of the coins we’re tracking, so 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
Paxos Standard saw the number of wallets holding its coin go from 18,774 to 20,480 over the past week — a change of 9.09%. As for overall transactions, they increased from 147,342 to 162,673 — an increase of 10.41%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Paxos Standard is thus at 19.50% which, relatively speaking, is ahead of 95.45% of the cryptocurrencies we’re tracking. This could indicate that the coin may be on track to getting and sustaining actual usage.
Technology Development Status
Paxos Standard Token currently has 30 public repositories on GitHub, with the oldest one now 2.58 years young. Its last public update to any of its repositories was more than a week ago which is potentially concerning; more than a week without an update may suggest development is too slow. Paxos Standard Token’s public repositories collectively have a total of 20 watchers, which is below average relative to its peers; that’s more than only 21 % of the 100 similar coins in our index. The coin has 1 issues reported across its public repositories. Relative 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 69% 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
