Price Action
Over the past week, True USD saw its price go down by -0.15%. It is above its 20 day moving average by 0.03%, which is quite close. True USD’s bullish momentum, determined by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. Now when considering volatility, True USD is more prone to sizable price moves than 2% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. If volatility over the past three weeks is any indication of what’s to come, we can expect True USD to bounce between 0.9943759 and $1.004034 US dollars per coin.
Where to trade True Usd (symbol: TUSD): Gate, Yobit, Binance, DDEX
Volume Update
Over the past week, TrueUSD saw its daily volume range between 17,480.12 and 118,657.6 units of its own currency. Over the past three weeks, volume has steadily declined, but the trend in price is not as clear one way or the other. TrueUSD experienced a turnover rate of about 0.03% 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 6% of the cryptocurrencies in our index, so it’s well below average; this coin may be hard to get into and out of, and thus is suitable only for those interested in holding and exiting slowly and patiently.
Engagement Update
The number of wallets holding True USD went from 19,720 to 20,371 in the past week, marking a change of 3.30%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 300,505 to 315,315, which translates to growth of 4.93% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of True USD is thus at 8.23% which, relatively speaking, is ahead of 93.85% of the cryptocurrencies we’re tracking. This could indicate that the coin may be on track to getting and sustaining actual usage.
Technology Development Status
TrueUSD currently has 11 public repositories on GitHub, with the oldest one now 1.61 years young. Its last public update to any of its repositories was more than a week ago which is potentially concerning; more than a week without an update may suggest development is too slow. TrueUSD’s public repositories collectively have a total of 137 watchers, which is below average relative to its peers; that’s more than only 30 % of the 100 similar coins in our index. The coin has 6 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 TrueUSD’s GitHub repos is more favorable than 76% of similar coins in our index.
TrueUSD News and Commentary
We found one link over the past week about TrueUSD 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.
Tether is the dominant stablecoin with an 87% share of total stablecoin market capita
Excerpt:
Figure 1: The market capitalization of the six largest stablecoins.
Where to Buy
You can trade True Usd, listed under the symbol TUSD, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
