Price Action
Over the past week, True Chain saw its price go down by -7.1%. It is below its 20 day moving average by 5.16%, so it’s slightly away. True Chain’s bullish momentum, determined by its distance from its 20 day moving average, is among the worst compared to other cryptocurrencies, and thus may indicate the coin has swung too far and too fast — and may thus be due for consolidation or a bullish correction. Now when considering volatility, True Chain is more prone to sizable price moves than 12% 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 True Chain in US dollars is expected to be between $0.9618309 and $1.093269.
Volume Update
In the week prior, the daily volume for TrueChain has ranged between 1,969,882 and 84,217,791 currency units. In the three weeks prior, volume has steadily risen, but price has been declining. TrueChain experienced a turnover rate of about 73.26% over the past week, which means that is the percent of its available money supply that is traded daily. Its trading turnover percentage is higher than about 94% of the coins we’re tracking, so it’s far above average and thus a good coin for those interested in active trading or being able to get out of the market if they need to.
Engagement Update
Over the past week, True Chain saw its holders go from 10,044 to 10,041, an increase of -0.03%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 63,710 to 63,809, which translates to growth of 0.16% for the week. True Chain’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 0.13% which puts it ahead of 15.15% of the coins in our index. This could indicate that the coin’s usage is not growing much at all.
Technology Development Status
At the moment, TrueChain has 30 repositories open to the public on GitHub, with the oldest one now being 1.28 years young. Its most recent public update was within the past week which is not bad, as the coin is still being updated routinely. TrueChain’s repos that are visible to the public collectively have 664 watchers — that’s more than approximately 58 % of coins in its index. The coin has 46 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 seems to be in good shape. To elaborate: the ratio of open issues to developers who are watching TrueChain’s GitHub repos is more favorable than 65% of similar coins in our index.
TrueChain News and Commentary
The top theme being discussed about TrueChain in the past week is listed below. If possible we included a brief excerpt from the article — be sure to click through for the entire piece.
A Recap of TRUE Future of Blockchain — The speech of TrueChain CEO at TRUE CONSEN
Article by SixJupiter
