VestChain (VEST) June 10, 2019 Week In Review: Price Down 12.06%

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Price Action

In the week prior, the price for VestChain went down by -12.06%. It is below its 20 day moving average by 9.74%, 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 43% 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 0.009992403 and $0.0129426.

Where to trade Vestchain (symbol: VEST): Stex

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Volume Update

In the week prior, the daily volume for VestChain has ranged between 5,347,989 and 19,496,413 currency units. Looking back over past 21 days, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. The past 7 days saw VestChain’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.19%. Its turnover rate is more than approximately 10.31% 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 30,093 to 30,093 in the past week, marking a change of 0.00%. And in regards to cumulative transactions logged on the blockchain, they went from 43,791 to 43,793, which amounts to a change of 0.00%. VestChain’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 0.00% which puts it ahead of 2.86% 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 356 days 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 repos that are visible to the public collectively have 3 watchers — it bests only 10 % of the 100 similar coins in our index. The coin has 0 outstanding issues in the backlog awaiting to be addressed by the core development team. 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, 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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