Price Action
In the week prior, the price for Status Network Token went down by -5.38%. It is above its 20 day moving average by 4.17%, so it’s slightly 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. In terms of volatility, Status Network Token exhibits greater price volatility than approximately 35% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. 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 $0.02444986 and $0.03092014.
Volume Update
In the span of the preceding 7 days, Status’s daily volume, in terms of its own unit of currency, has fluctuated between 7,349,012 and 64,477,535. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. Over the past week, Status saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.98%. Its turnover rate is more than approximately 31.58% 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
Status Network Token saw the number of wallets holding its coin go from 67,161 to 67,374 over the past week — a change of 0.32%. And in regards to cumulative transactions logged on the blockchain, they went from 669,955 to 673,559, which amounts to a change of 0.54%. Status Network Token’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 0.86% which puts it ahead of 36.11% of the coins in our index. This could indicate that 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 2.09 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 250 watchers — that’s more than approximately 43 % of coins in its index. The coin has 64 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 26% of the coins we group Status in.
Status News and Commentary
Over the past week, we found one link about Status that we thought was particularly interesting. Where available, we included a snippet of the article that we thought might be interesting.
Status (SNT) get listed on OMGFIN. – Omgfin Exchange
Key Extract:
OMGFIN attempts to screen all tokens before they come to market, however, even with the best due diligence there are still risks when investing….The Status Network token is a modular utility token that fuels the Status network.
Article by SixJupiter
