USD Coin (USDC) July 8, 2019 Week In Review: Price Down 0.3%

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Price Action

In the week prior, the price for USD Coin went down by -0.3%. It is below its 20 day moving average by 0.14%, which is quite close. USD Coin’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. 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 0.9920417 and $1.014758.

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 89,587.93 and 1,475,628 units of its own currency. In the three weeks prior, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. Over the past week, USD Coin saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.17%. Its trading turnover percentage is higher than about 9.8% 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

USD Coin saw the number of wallets holding its coin go from 40,238 to 42,689 over the past week — a change of 6.09%. And in regards to cumulative transactions logged on the blockchain, they went from 452,307 to 484,047, which amounts to a change of 7.02%. USD Coin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 13.11% which puts it ahead of 88.24% of the coins in our index. 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 1.42 years young. The last recorded update to its public 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 81 watchers, which is below average relative to its peers; that’s more than only 29 % 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. Relative 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 82% 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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