Price Action
Since last week, Status Network Token’s price went down by -2.81%. It is above its 20 day moving average by 1.48%, so it’s fairly close. 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. Now when considering volatility, Status Network Token is more prone to sizable price moves than 19% 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 Status Network Token in US dollars is expected to be between $0.02603743 and $0.03127257.
Volume Update
In the week prior, the daily volume for Status has ranged between 7,087,207 and 73,034,581 currency units. In the three weeks prior, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. The past 7 days saw Status’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.9%. This turnover rate is higher than approximately 32.65% 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, Status Network Token saw its holders go from 67,318 to 67,491, an increase of 0.26%. As for overall transactions, they increased from 678,048 to 681,006 — an increase of 0.44%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Status Network Token is thus at 0.70% which, relatively speaking, is ahead of 29.41% of the cryptocurrencies we’re tracking. One interpretation of this may be that its change in engagement is below average, at least on a percentage basis.
Technology Development Status
Status currently has 30 public repos on GitHub, with the oldest one clocking in at 2.13 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 public repositories collectively have a total of 254 watchers, which is about average compared to other similar coins; that’s more than approximately 51 % of coins in its index. The coin has 65 outstanding issues in the backlog awaiting to be addressed by the core development team. Its number of watchers, when viewed against 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 25% 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. Where available, we included a snippet of the article that we thought might be interesting.
How Status.im and Brave Can Decentralize the
Article by SixJupiter
