Price Action
In the week prior, the price for Paxos Standard went up by 0.1%. It is above its 20 day moving average by 0.1%, which is quite close. Paxos Standard’s bullish momentum, based on its distance from its 20 day moving average, is pretty far negative compared to the other coins we’re covering, and thus may be due for a correction upwards or some kind of a period of low volatility. In terms of volatility, Paxos Standard exhibits greater price volatility than approximately 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 0.9878201 and $1.01018.
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 148,851.7 and 1,098,434 units of its own currency. In the three weeks prior, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. 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 0.44%. Its trading turnover percentage is higher than about 18.37% 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
The number of wallets holding Paxos Standard went from 13,539 to 15,028 in the past week, marking a change of 11.00%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 111,914 to 120,074, which translates to growth of 7.29% for the week. Paxos Standard’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 18.29% which puts it ahead of 97.06% 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 2.5 years young. Its most recent public update 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 repos that are visible to the public collectively have 66 watchers — that’s more than only 36 % of the 100 similar coins in our index. The coin has 3 issues reported across its public repositories. 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 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
