Price Action
Since last week, Status Network Token’s price went down by -15.62%. It is below its 20 day moving average by 13.44%, so it’s somewhat away. Status Network Token’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. In terms of volatility, Status Network Token exhibits greater price volatility than approximately 40% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. Based on volatility over the past three weeks, we can expect Status Network Token to experience a price range in US dollars between 0.02205338 and $0.02988762.
Volume Update
In the week prior, the daily volume for Status has ranged between 19,193,535 and 59,578,152 currency units. Looking back over past 21 days, the trend in volume does not have a clear direction, while the price trend is clearly down. Status experienced a turnover rate of about 1.18% 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 37.11% 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
The number of wallets holding Status Network Token went from 66,612 to 66,642 in the past week, marking a change of 0.05%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 657,021 to 658,743, which translates to growth of 0.26% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Status Network Token is thus at 0.31% which, relatively speaking, is ahead of 35.29% of the cryptocurrencies we’re tracking. This growth rate suggests its change in engagement is below average, at least on a percentage basis.
Technology Development Status
At the moment, Status has 30 repositories open to the public on GitHub, with the oldest one now being 1.99 years young. Its most recent public update was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Status’s repos that are visible to the public collectively have 241 watchers — that’s more than only 31 % of the 100 similar coins in our index. The coin has 66 issues reported across its public repositories. Relative to the number of watchers it has, though, its open issues count is a bit below average, and thus potentially concerning. We view the ratio of open issues on Status’s GitHub repos relative to the number of developers who follow its repos as a way to quantitatively assess the health of a coin’s software development processes, and for Status we see that it fares better than only 22% of the coins we group Status in.
Article by SixJupiter
