USD Coin (USDC) June 17, 2019 Week In Review: Price Down 0.12%

.

Price Action

Over the past week, USD Coin saw its price go down by -0.12%. It is above its 20 day moving average by 0.05%, which is quite close. USD Coin’s bullish momentum, determined by its distance from its 20 day moving average, is pretty far negative compared to the other coins we’re covering, and thus may be due for a correction upwards or some kind of a period of low volatility. In terms of volatility, USD Coin exhibits greater price volatility than approximately 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 USD Coin to bounce between 0.9945621 and $1.004018 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 148,851.7 and 1,097,885 units of its own currency. Over the past three weeks, volume has a clearn upwards trend, but the trend in price is not as clear. USD Coin experienced a turnover rate of about 0.23% 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 12.24% 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

Over the past week, USD Coin saw its holders go from 33,583 to 36,507, an increase of 8.71%. And in regards to cumulative transactions logged on the blockchain, they went from 373,575 to 398,909, which amounts to a change of 6.78%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of USD Coin is thus at 15.49% which, relatively speaking, is ahead of 94.12% 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 1.36 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 77 watchers — that’s more than only 38 % 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. 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 USD Coin’s GitHub repos is more favorable than 77% 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

Stay up to date on crypto news!

Sign up for our newsletter for all the hottest crypto stories, ICO reviews, and insights from leading experts of the crypto world - four times a week.

You have been signed up!