Price Action
Over the past week, Paxos Standard saw its price go up by 0.02%. It is below its 20 day moving average by 0.05%, which is quite close. Paxos Standard’s bullish momentum, determined by 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. Now when considering volatility, Paxos Standard is more prone to sizable price moves than 2% 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 $0.9963307 and $1.004129.
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 1,798.79 and 597,311.2 units of its own currency. In the three weeks prior, volume has steadily declined, but the trend in price is not as clear one way or the other. 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 0.11%. Its turnover rate is more than approximately 10% 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.
Engagement Update
The number of wallets holding Paxos Standard went from 14,782 to 16,197 in the past week, marking a change of 9.57%. And in regards to cumulative transactions logged on the blockchain, they went from 118,752 to 128,720, which amounts to a change of 8.39%. This translates to a combined engagement growth rate of 17.96% for Paxos Standard — which is higher than 96.97% of the cryptocurrencies we’re reporting on. One interpretation of this may be 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 2.52 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 public repositories collectively have a total of 66 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 3 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 75% 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
