Price Action
Over the past week, True Chain saw its price go up by 15.57%. It is above its 20 day moving average by 15.02%, so it’s a bit of a ways off. True Chain’s bullish momentum, if assessed by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. Regarding volatility, True Chain is more volatile than roughly 65% of coins in our index, so traders can expect a bit more volatility than usual. Based on volatility over the past three weeks, we can expect True Chain to experience a price range in US dollars between 0.7973688 and $1.167511.
Volume Update
In the week prior, the daily volume for TrueChain has ranged between 14,946,548 and 87,615,950 currency units. Looking back over past 21 days, the trend in both volume and price have clearly been up. Over the past week, TrueChain saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 88.87%. Its trading turnover percentage is higher than about 93.68% 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
The number of wallets holding True Chain went from 10,057 to 10,056 in the past week, marking a change of -0.01%. As for overall transactions, they increased from 63,605 to 63,652 — an increase of 0.07%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of True Chain is thus at 0.06% which, relatively speaking, is ahead of 5.56% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin’s usage is not growing much at all.
Technology Development Status
TrueChain currently has 30 public repositories on GitHub, with the oldest one now 1.22 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. TrueChain’s repos that are visible to the public collectively have 658 watchers — specifically, that’s more than 62 % of the top 100 coins we’re looking at. The coin has 43 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 67% of similar coins in our index.
TrueChain News and Commentary
We found one link over the past week about TrueChain that we thought was especially worth sharing. If available, we added an excerpt from the article to help give a taste of what it is about.
TrueChain Weekly 2019.5.20–5.26 – TrueChain
Key Extract:
TrueChain provides the underlying public blockchain infrastructure with high performance, security for decentralized application (DApp) and global asset transaction….We firmly believe that TrueChain technologies will reshape the business world, and TrueChain will live up to our supporters’ expectations.
Article by SixJupiter
