Price Action
Over the past week, True Chain saw its price go up by 7.29%. It is above its 20 day moving average by 6.9%, so it’s slightly away. True Chain’s bullish momentum, determined by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Now when considering volatility, True Chain is more prone to sizable price moves than 19% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Based on volatility over the past three weeks, we can expect True Chain to experience a price range in US dollars between 0.7846231 and $1.016867.
Volume Update
In the span of the preceding 7 days, TrueChain’s daily volume, in terms of its own unit of currency, has fluctuated between 1,566,941 and 8,138,860. In the three weeks prior, the trend in volume is not clear, though price is marching upwards. TrueChain experienced a turnover rate of about 8.68% over the past week, which means that is the percent of its available money supply that is traded daily. Its turnover rate is more than approximately 83.84% 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
True Chain saw the number of wallets holding its coin go from 10,066 to 10,057 over the past week — a change of -0.09%. As for overall transactions, they increased from 63,520 to 63,605 — an increase of 0.13%. True Chain’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 0.04% which puts it ahead of 8.33% of the coins in our index. 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 repos on GitHub, with the oldest one clocking in at 1.2 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 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 43 issues reported across its public repositories. 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 69% 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 Report 2019.5.6–5.12. – TrueChain
Excerpt:
TrueChain provides the underlying public blockchain infrastructure with high performance, security for decentralized application (DApp) and global asset transaction….Cooperate with well-known stable currency brands to issue stable currency, create stable currency contracts, set up verification nodes, and test functional stability and security.
Article by SixJupiter
