Price Action
Since last week, Status Network Token’s price went up by 11.7%. It is above its 20 day moving average by 15.56%, so it’s a bit of a ways off. Status Network Token’s bullish momentum, if assessed by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. In terms of volatility, Status Network Token exhibits greater price volatility than approximately 53% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. If volatility over the past three weeks is any indication of what’s to come, we can expect Status Network Token to bounce between 0.02034808 and $0.03035992 US dollars per coin.
Volume Update
In the week prior, the daily volume for Status has ranged between 16,032,349 and 57,165,958 currency units. 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 0.93%. Its turnover rate is more than approximately 32.32% 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
The number of wallets holding Status Network Token went from 67,038 to 67,161 in the past week, marking a change of 0.18%. As for overall transactions, they increased from 667,174 to 669,955 — an increase of 0.42%. This translates to a combined engagement growth rate of 0.60% for Status Network Token — which is higher than 36.11% of the cryptocurrencies we’re reporting on. This growth rate suggests 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 2.07 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 public repositories collectively have a total of 249 watchers, which is below average relative to its peers; that’s more than only 31 % of the 100 similar coins in our index. The coin has 63 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 24% 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.
How Companies Can Provide Customers with Meaning – Zac Garside
Article by SixJupiter
