USD Coin (USDC) June 24, 2019 Weekly Summary: Price Up 0.1%

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Price Action

In the week prior, the price for USD Coin went up by 0.1%. It is above its 20 day moving average by 0.12%, 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. Regarding volatility, USD Coin is more volatile than roughly 0% 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 0.9975877 and $1.002112.

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

Volume Update

In the week prior, the daily volume for USD Coin has ranged between 394,455.3 and 1,693,300 currency units. Looking back over past 21 days, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. USD Coin experienced a turnover rate of about 0.24% over the past week, which means that is the percent of its available money supply that is traded daily. This turnover rate is higher than approximately 15% 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

The number of wallets holding USD Coin went from 36,032 to 38,607 in the past week, marking a change of 7.15%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 395,251 to 427,812, which translates to growth of 8.24% for the week. USD Coin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 15.39% which puts it ahead of 93.94% 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 1.38 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 repos that are visible to the public collectively have 78 watchers — that’s more than only 23 % of the 100 similar coins in our index. The coin has 2 total outstanding issues across all 2 of its public repositories on GitHub. 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 84% 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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