Price Action
Over the past week, True Chain saw its price go up by 30.65%. It is above its 20 day moving average by 18.33%, so it’s a bit of a ways off. True Chain’s bullish momentum, based on its distance from its 20 day moving average, is well above average relative to its peers, and thus may be a sign the market for the coin is overheating and due to correct downwards. In terms of volatility, True Chain exhibits greater price volatility than approximately 90% of coins in our index, so bear that in mind if you decide to trade it. Based on volatility over the past three weeks, we can expect True Chain to experience a price range in US dollars between 0.5659528 and $0.9454272.
Volume Update
Over the past week, TrueChain saw its daily volume range between 2,053,395 and 9,345,682 units of its own currency. Looking back over past 21 days, the trend in volume is not clear, though price is marching upwards. The past 7 days saw TrueChain’s trading turnover — meaning the percentage of its available supply that was traded — come in at 8.07%. Its turnover rate is more than approximately 83.67% of the cryptocurrencies in our index, 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 10,085 to 10,079 in the past week, marking a change of -0.06%. And in regards to cumulative transactions logged on the blockchain, they went from 63,375 to 63,436, which amounts to a change of 0.10%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of True Chain is thus at 0.04% which, relatively speaking, is ahead of 5.56% of the cryptocurrencies we’re tracking. This growth rate suggests 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 1.16 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. TrueChain’s public repos now have 657 which is about average compared to other similar coins; that’s more than approximately 57 % of coins in its index. The coin has 41 outstanding issues in the backlog awaiting to be addressed by the core development team. Relative 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 69% of similar coins in our index.
Article by SixJupiter
