Price Action
In the week prior, the price for Paxos Standard went down by 0%. It is below its 20 day moving average by 0.69%, which is quite close. Paxos Standard’s bullish momentum, if assessed 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 3% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. If volatility over the past three weeks is any indication of what’s to come, we can expect Paxos Standard to bounce between 0.9864438 and $1.027426 US dollars per coin.
Where to trade Paxos Standard (symbol: PAX): Gate, Yobit, Binance, DDEX, Ethfinex
Volume Update
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 552,554.2 and 4,850,107. In the three weeks prior, volume has steadily risen, but price has been declining. Paxos Standard Token experienced a turnover rate of about 1.29% 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 32.99% 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
Over the past week, Paxos Standard saw its holders go from 7,796 to 9,672, an increase of 24.06%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 77,622 to 88,082, which translates to growth of 13.48% for the week. This translates to a combined engagement growth rate of 37.54% for Paxos Standard — which is higher than 97.14% of the cryptocurrencies we’re reporting on. 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 2.42 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 repos now have 66 which is very bad on a relative basis; it bests only 14 % of the 100 similar coins in our index. The coin has 3 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 76% 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
