USD Coin (USDC) June 3, 2019 Week In Review: Price Up 1%

.

Price Action

In the week prior, the price for USD Coin went up by 1%. It is above its 20 day moving average by 0.27%, which is quite close. USD Coin’s bullish momentum, if assessed 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. Now when considering volatility, USD Coin is more prone to sizable price moves than 1% 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 0.988693 and $1.005997.

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

Volume Update

In the span of the preceding 7 days, USD Coin’s daily volume, in terms of its own unit of currency, has fluctuated between 2,046.94 and 114,141.4. In the three weeks prior, volume has steadily declined, but the trend in price is not as clear one way or the other. USD Coin experienced a turnover rate of about 0.01% over the past week, which means that is the percent of its available money supply that is traded daily. Its trading turnover percentage is higher than about 2.11% 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

The number of wallets holding USD Coin went from 28,481 to 31,525 in the past week, marking a change of 10.69%. As for overall transactions, they increased from 321,962 to 349,641 — an increase of 8.60%. USD Coin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 19.29% which puts it ahead of 91.67% 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 1.32 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 repos now have 75 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. 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 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

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!