Price Action
Since last week, USD Coin’s price went up by 2%. It is above its 20 day moving average by 1.87%, which is quite close. USD Coin’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, USD Coin is more prone to sizable price moves than 0% 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 USD Coin to bounce between 0.9913471 and $1.011293 US dollars per coin.
Where to trade Usd Coin (symbol: USDC): Gate, Yobit, Binance, DDEX
Volume Update
In the span of the preceding 7 days, USD Coin’s daily volume, in terms of its own unit of currency, has fluctuated between 513,057 and 1,385,262. Looking back over past 21 days, the trend in volume is not clear, though price is marching upwards. USD Coin experienced a turnover rate of about 0.36% over the past week, which means that is the percent of its available money supply that is traded daily. Its trading turnover percentage is higher than about 18.56% of the coins we’re tracking, 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
Over the past week, USD Coin saw its holders go from 19,059 to 19,904, an increase of 4.43%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 210,500 to 219,582, which translates to growth of 4.31% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of USD Coin is thus at 8.74% which, relatively speaking, is ahead of 97.06% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin may be on track to getting and sustaining actual usage.
Technology Development Status
USD Coin currently has 1 public repos on GitHub, with the oldest one clocking in at 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. USD Coin’s repos that are visible to the public collectively have 70 watchers — it bests only 13 % of the 100 similar coins in our index. The coin has 2 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 doesn’t seem like something to worry about. To put the situation in context, USD Coin has a better issue/watcher ratio on its GitHub than 85% of similar coins we’re tracking.
Where to Buy
You can trade Usd Coin, listed under the symbol USDC, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
