Since last week, Paxos Standard’s price went up by 1.1%. It is above its 20 day moving average by 0.19%, which is quite close. Paxos Standard’s bullish momentum, based on 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 3% 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 0.9844492 and $1.010611.
In the span of the preceding 7 days, Paxos Standard Token’s daily volume, in terms of its own unit of currency, has fluctuated between 135,433.6 and 1,541,466. Over the past three weeks, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. The past 7 days saw Paxos Standard Token’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.44%. Its turnover rate is more than approximately 19.59% of the cryptocurrencies in our index, 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.
Paxos Standard saw the number of wallets holding its coin go from 12,431 to 13,539 over the past week — a change of 8.91%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 103,692 to 111,914, which translates to growth of 7.93% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Paxos Standard is thus at 16.84% which, relatively speaking, is ahead of 94.29% 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 repos on GitHub, with the oldest one clocking in at 2.48 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 repos now have 66 which is below average relative to its peers; that’s more than only 25 % of the 100 similar coins in our index. The coin has 4 total outstanding issues across all 30 of its public repositories on GitHub. 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 67% of similar coins in our index.
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Article by SixJupiter