Price Action
In the week prior, the price for USD Coin went down by 0%. It is below its 20 day moving average by 0.87%, 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. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for USD Coin in US dollars is expected to be between $0.9877843 and $1.009706.
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 80.18 and 252,682.3. Looking back over past 21 days, both price and volume have 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 0.02%. Its turnover rate is more than approximately 3.03% 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 26,164 to 28,481, an increase of 8.86%. As for overall transactions, they increased from 296,034 to 321,962 — an increase of 8.76%. USD Coin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 17.62% which puts it ahead of 94.44% of the coins in our index. This growth rate suggests 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 1.3 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 public repos now have 73 which is very bad on a relative basis; it bests only 16 % of the 100 similar coins in our index. The coin has 2 total outstanding issues across all 2 of its public repositories on GitHub. Its number of watchers, when viewed against 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 86% 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
