Price Action
Since last week, Status Network Token’s price went up by 6.67%. It is below its 20 day moving average by 9.24%, so it’s somewhat away. Status Network Token’s bullish momentum, determined by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Now when considering volatility, Status Network Token is more prone to sizable price moves than 66% of coins in our index, so traders can expect a bit more volatility than usual. If volatility over the past three weeks is any indication of what’s to come, we can expect Status Network Token to bounce between 0.01624508 and $0.03064892 US dollars per coin.
Volume Update
Over the past week, Status saw its daily volume range between 3,716,777 and 24,732,833 units of its own currency. Over the past three weeks, the trend in volume does not have a clear direction, while the price trend is clearly down. The past 7 days saw Status’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.42%. Its trading turnover percentage is higher than about 25% of the coins we’re tracking, so 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 68,378 to 68,949 in the past week, marking a change of 0.84%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 698,987 to 703,108, which translates to growth of 0.59% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Status Network Token is thus at 1.43% which, relatively speaking, is ahead of 82.56% of the cryptocurrencies we’re tracking. This growth rate suggests the coin may be on track to getting and sustaining actual usage.
Technology Development Status
Status currently has 30 public repositories on GitHub, with the oldest one now 2.23 years young. Its last public update to any of its repositories 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 261 watchers — that’s more than approximately 44 % of coins in its index. The coin has 66 outstanding issues in the backlog awaiting to be addressed by the core development team. In comparison 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.
Status News and Commentary
We found one link over the past week about Status that we thought was especially worth sharing. If available, we added an excerpt from the article to help give a taste of what it is about.
The Social standing of Life! – Vitin Landivar
Article by SixJupiter
