USD Coin (USDC) July 1, 2019 Weekly Recap: Price Up 0.4%

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Price Action

Since last week, USD Coin’s price went up by 0.4%. It is above its 20 day moving average by 0.36%, which is quite close. USD Coin’s bullish momentum, based on 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, USD Coin exhibits greater price volatility than approximately 1% 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 0.9936344 and $1.013046 US dollars per coin.

Where to trade Usd Coin (symbol: USDC): Gate, Yobit, Binance, DDEX

Volume Update

Over the past week, USD Coin saw its daily volume range between 139.78 and 304,918.8 units of its own currency. In the three weeks prior, volume has trended downwards, but price has gone in the opposite direction — up. Over the past week, USD Coin saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.03%. Its turnover rate is more than approximately 6.86% 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

USD Coin saw the number of wallets holding its coin go from 38,607 to 41,319 over the past week — a change of 7.02%. As for overall transactions, they increased from 427,812 to 466,390 — an increase of 9.02%. This translates to a combined engagement growth rate of 16.04% for USD Coin — which is higher than 90.91% of the cryptocurrencies we’re reporting on. This growth rate suggests the coin may be on track to getting and sustaining actual usage.

Technology Development Status

USD Coin currently has 2 public repos on GitHub, with the oldest one clocking in at 1.4 years young. Its last public update to any of its repositories was within the past week which is not bad, as the coin is still being updated routinely. USD Coin’s public repositories collectively have a total of 80 watchers, which is about average compared to other similar coins; that’s more than approximately 46 % of coins in its index. The coin has 2 issues reported across its public repositories. 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 USD Coin’s GitHub repos is more favorable than 74% of similar coins in our index.

Where to Buy

You can trade Usd Coin, listed under the symbol USDC, through the following exchanges: Gate, Yobit, Binance, DDEX.

Article by SixJupiter

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