VestChain (VEST) July 8, 2019 Weekly Summary: Price Down 15.38%

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Price Action

Over the past week, VestChain saw its price go down by -15.38%. It is below its 20 day moving average by 14.69%, so it’s a bit of a ways off. VestChain’s bullish momentum, if assessed by its distance from its 20 day moving average, is among the worst compared to other cryptocurrencies, and thus may indicate the coin has swung too far and too fast — and may thus be due for consolidation or a bullish correction. Regarding volatility, VestChain is more volatile than roughly 57% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. Based on volatility over the past three weeks, we can expect VestChain to experience a price range in US dollars between 0.01250303 and $0.01755097.

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 2,550,854 and 21,048,503. Over the past three weeks, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. VestChain experienced a turnover rate of about 0.2% over the past week, which means that is the percent of its available money supply that is traded daily. Its turnover rate is more than approximately 10.78% 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

VestChain saw the number of wallets holding its coin go from 30,095 to 30,095 over the past week — a change of 0.00%. And in regards to cumulative transactions logged on the blockchain, they went from 43,795 to 43,816, which amounts to a change of 0.05%. VestChain’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 0.05% which puts it ahead of 5.88% of the coins in our index. One interpretation of this may be that the coin’s usage is not growing much at all.

Technology Development Status

VestChain currently has 2 public repos on GitHub, with the oldest one clocking in at 1.05 years young. The last recorded update to its public repositories 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 repositories collectively have a total of 3 watchers, which is very bad on a relative basis; it bests only 12 % of the 100 similar coins in our index. The coin has 0 total outstanding issues across all 2 of its public repositories on GitHub. 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 89% 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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