VestChain (VEST) July 15, 2019 Weekly Summary: Price Down 23.28%

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Price Action

In the week prior, the price for VestChain went down by -23.28%. It is below its 20 day moving average by 27.47%, so it’s a bit of a ways off. VestChain’s bullish momentum, determined 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. In terms of volatility, VestChain exhibits greater price volatility than approximately 80% of coins in our index, so bear that in mind if you decide to trade it. If volatility over the past three weeks is any indication of what’s to come, we can expect VestChain to bounce between 0.01023054 and $0.01839346 US dollars per coin.

Where to trade Vestchain (symbol: VEST): Stex

Volume Update

In the span of the preceding 7 days, VestChain’s daily volume, in terms of its own unit of currency, has fluctuated between 2,855,822 and 16,174,778. Looking back over past 21 days, the trend in volume does not have a clear direction, while the price trend is clearly down. Over the past week, VestChain saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.13%. Its turnover rate is more than approximately 13.73% 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

The number of wallets holding VestChain went from 30,095 to 30,095 in the past week, marking a change of 0.00%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 43,814 to 43,825, which translates to growth of 0.03% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of VestChain is thus at 0.03% which, relatively speaking, is ahead of 32.99% of the cryptocurrencies we’re tracking. This could indicate that its change in engagement is below average, at least on a percentage basis.

Technology Development Status

At the moment, VestChain has 2 repositories open to the public on GitHub, with the oldest one now being 1.07 years young. Its most recent public update was more than a week ago which is potentially concerning; more than a week without an update may suggest development is too slow. VestChain’s public repos now have 3 which is very bad on a relative basis; it bests only 13 % of the 100 similar coins in our index. The coin has 0 issues reported across its public repositories. 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, VestChain has a better issue/watcher ratio on its GitHub than 88% of similar coins we’re tracking.

Where to Buy

You can trade Vestchain, listed under the symbol VEST, through the following exchanges: Stex.

Article by SixJupiter

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