Price Action
In the week prior, the price for Paxos Standard went down by -0.11%. It is above its 20 day moving average by 0.07%, 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. In terms of volatility, Paxos Standard exhibits greater price volatility than approximately 1% 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 0.9946912 and $1.003699.
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 104,332.1 and 2,224,452 currency units. Looking back over past 21 days, 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 0.55% 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 32% 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
Paxos Standard saw the number of wallets holding its coin go from 20,480 to 21,267 over the past week — a change of 3.84%. And in regards to cumulative transactions logged on the blockchain, they went from 162,673 to 173,811, which amounts to a change of 6.85%. Paxos Standard’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 10.69% which puts it ahead of 94.87% of the coins in our index. 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 repos on GitHub, with the oldest one clocking in at 2.6 years young. The last recorded update to its public 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 very bad on a relative basis; it bests only 16 % 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 70% 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
