Status Network Token (SNT) July 8, 2019 Week In Review: Price Up 2.22%


Price Action

In the week prior, the price for Status Network Token went up by 2.22%. It is below its 20 day moving average by 1.01%, so it’s fairly close. Status Network Token’s bullish momentum, if assessed 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 14% 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 Status Network Token to bounce between 0.02558742 and $0.03106358 US dollars per coin.

Volume Update

In the week prior, the daily volume for Status has ranged between 4,549,871 and 28,067,098 currency units. In the three weeks prior, the trend in volume does not have a clear direction, while the price trend is clearly down. Over the past week, Status saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.5%. Its turnover rate is more than approximately 23.53% of the cryptocurrencies in our index, 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

Over the past week, Status Network Token saw its holders go from 67,695 to 68,161, an increase of 0.69%. And in regards to cumulative transactions logged on the blockchain, they went from 688,625 to 693,162, which amounts to a change of 0.66%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Status Network Token is thus at 1.35% which, relatively speaking, is ahead of 47.06% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin’s weekly growth in engagement is fairly mediocre.

Technology Development Status

Status currently has 30 public repositories on GitHub, with the oldest one now 2.19 years young. The last recorded update to its public 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 public repos now have 258 which is about average compared to other similar coins; that’s more than approximately 45 % of coins in its index. The coin has 67 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 24% of the coins we group Status in.

Status News and Commentary

We found 2 links over the past week about Status that we thought were especially worth sharing. Where available, we included a snippet of the article that we thought might be interesting.

My Best Month Yet – Traverse Davies

BZEdge status update July 3, 2019 – BZEdge Community

Article by SixJupiter

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