USD Coin (USDC) July 15, 2019 Weekly Summary: Price Up 1.23%

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Price Action

Since last week, USD Coin’s price went up by 1.23%. It is below its 20 day moving average by 0.22%, which is quite close. USD Coin’s bullish momentum, based on its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. Regarding volatility, USD Coin is more volatile than roughly 2% 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 USD Coin to experience a price range in US dollars between 0.9844667 and $1.016873.

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 56,169.7 and 894,425.8 units of its own currency. Over the past three weeks, volume has steadily risen, but price has been declining. The past 7 days saw USD Coin’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.08%. This turnover rate is higher than approximately 11.76% of the cryptocurrencies we monitor, which means 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 42,689 to 45,742 over the past week — a change of 7.15%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 484,047 to 526,109, which translates to growth of 8.69% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of USD Coin is thus at 15.84% which, relatively speaking, is ahead of 94.69% 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

At the moment, USD Coin has 2 repositories open to the public on GitHub, with the oldest one now being 1.44 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 repos that are visible to the public collectively have 82 watchers — that’s more than only 30 % of the 100 similar coins in our index. The coin has 2 issues reported across its public repositories. 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 80% 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

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