USD Coin (USDC) May 6, 2019 Week In Review: Price Down 0.97%

.

Price Action

Since last week, USD Coin’s price went down by -0.97%. It is above its 20 day moving average by 0.69%, which is quite close. USD Coin’s bullish momentum, based on its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. 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. 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 $0.9903593 and $1.035601.

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 223,551.8 and 1,015,484. Looking back over past 21 days, the trend in volume is not clear, though price is marching upwards. Over the past week, USD Coin saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.21%. Its turnover rate is more than approximately 14.58% 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

USD Coin saw the number of wallets holding its coin go from 19,904 to 22,105 over the past week — a change of 11.06%. And in regards to cumulative transactions logged on the blockchain, they went from 219,582 to 252,035, which amounts to a change of 14.78%. This translates to a combined engagement growth rate of 25.84% for USD Coin — which is higher than 84.38% 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 1.25 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 repositories collectively have a total of 71 watchers, which is very bad on a relative basis; it bests only 11 % 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 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

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!