Price Action
Over the past week, USD Coin saw its price go up by 0.24%. It is below its 20 day moving average by 0.66%, 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. Regarding volatility, USD Coin is more volatile than roughly 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 0.988947 and $1.023143.
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 554,411.5 and 4,845,500 units of its own currency. Looking back over past 21 days, volume has steadily risen, but price has been declining. The past 7 days saw USD Coin’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.69%. Its turnover rate is more than approximately 21.65% of the cryptocurrencies in our index, so it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.
Engagement Update
The number of wallets holding USD Coin went from 22,991 to 26,164 in the past week, marking a change of 13.80%. As for overall transactions, they increased from 264,825 to 296,034 — an increase of 11.78%. This translates to a combined engagement growth rate of 25.58% for USD Coin — which is higher than 91.43% of the cryptocurrencies we’re reporting on. This growth rate suggests 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 1.28 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 72 watchers — it bests only 15 % of the 100 similar coins in our index. The coin has 2 issues reported across its public repositories. 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.
Where to Buy
You can trade Usd Coin, listed under the symbol USDC, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
