Since last week, USD Coin’s price went down by -0.99%. It is below its 20 day moving average by 1.33%, so it’s fairly close. USD Coin’s bullish momentum, based on 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. Based on volatility over the past three weeks, we can expect USD Coin to experience a price range in US dollars between 0.9927002 and $1.0343.
In the week prior, the daily volume for USD Coin has ranged between 223,551.8 and 2,957,596 currency units. Over the past three weeks, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. The past 7 days saw USD Coin’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.39%. Its trading turnover percentage is higher than about 18.37% 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.
USD Coin saw the number of wallets holding its coin go from 22,105 to 23,163 over the past week — a change of 4.79%. As for overall transactions, they increased from 252,035 to 267,073 — an increase of 5.97%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of USD Coin is thus at 10.76% which, relatively speaking, is ahead of 94.44% 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
USD Coin currently has 1 public repos on GitHub, with the oldest one clocking in at 1.27 years young. Its last public update to any of its repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. USD Coin’s repos that are visible to the public collectively have 72 watchers — it bests only 13 % of the 100 similar coins in our index. The coin has 2 total outstanding issues across all 1 of its public repositories on GitHub. 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 83% of similar coins we’re tracking.
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Article by SixJupiter