Price Action
In the week prior, the price for True Chain went up by 5.21%. It is above its 20 day moving average by 9.97%, so it’s somewhat away. True Chain’s bullish momentum, if assessed 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, True Chain exhibits greater price volatility than approximately 74% of coins in our index, so traders can expect a bit more volatility than usual. 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 $0.609439 and $1.020701.
Volume Update
Over the past week, TrueChain saw its daily volume range between 2,041,570 and 8,836,995 units of its own currency. Looking back over past 21 days, the trend in volume is not clear, though price is marching upwards. Over the past week, TrueChain saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 7.87%. Its turnover rate is more than approximately 75.26% of the cryptocurrencies in our index, so it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
The number of wallets holding True Chain went from 10,082 to 10,066 in the past week, marking a change of -0.16%. As for overall transactions, they increased from 63,430 to 63,520 — an increase of 0.14%. True Chain’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is -0.02% which puts it ahead of 0.00% of the coins in our index. This growth rate suggests 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 1.18 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 656 which is about average compared to other similar coins; that’s more than approximately 59 % of coins in its index. The coin has 43 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, 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 68% of similar coins in our index.
TrueChain News and Commentary
We found 2 links over the past week about TrueChain that we thought were especially worth sharing. Where available, we included a snippet of the article that we thought might be interesting.
TrueChain will launch USD stablecoin PAX on its
TrueChain Weekly Report 2019.5.6–5.12 – TrueChain
Key Extract:
Developed and designed the new version which improved in security, stability and performance, and made it compatible with the old version…TrueChain provides the underlying public blockchain infrastructure with high performance, security for decentralized application (DApp) and global asset transaction.
Article by SixJupiter
