Worldwide Asset EXchange (WAX) July 8, 2019 Weekly Summary: Price Down 6.09%

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Price Action

In the week prior, the price for Worldwide Asset eXchange went down by -6.09%. It is below its 20 day moving average by 10.9%, so it’s a bit of a ways off. Worldwide Asset eXchange’s bullish momentum, based on 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, Worldwide Asset eXchange is more volatile than roughly 79% of coins in our index, so traders can expect a bit more volatility than usual. If volatility over the past three weeks is any indication of what’s to come, we can expect Worldwide Asset eXchange to bounce between 0.06508579 and $0.1054792 US dollars per coin.

Where to trade Wax (symbol: WAX): Gate, Ethfinex

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Volume Update

In the week prior, the daily volume for WAX has ranged between 850,030.9 and 16,488,468 currency units. Looking back over past 21 days, the trend in volume does not have a clear direction, while the price trend is clearly down. The past 7 days saw WAX’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.6%. Its trading turnover percentage is higher than about 26.47% of the coins we’re tracking, so it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.

Engagement Update

The number of wallets holding Worldwide Asset eXchange went from 16,506 to 16,730 in the past week, marking a change of 1.36%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 166,398 to 169,442, which translates to growth of 1.83% for the week. This translates to a combined engagement growth rate of 3.19% for Worldwide Asset eXchange — which is higher than 58.82% of the cryptocurrencies we’re reporting on. This growth rate suggests the coin’s weekly growth in engagement is fairly mediocre.

Technology Development Status

WAX currently has 3 public repos on GitHub, with the oldest one clocking in at 1.6 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. WAX’s repos that are visible to the public collectively have 38 watchers — that’s more than only 22 % of the 100 similar coins in our index. The coin has 2 issues reported across its public repositories. Its number of watchers, when viewed against its open issues count, seems to be in good shape. To elaborate: the ratio of open issues to developers who are watching WAX’s GitHub repos is more favorable than 66% of similar coins in our index.

WAX News and Commentary

The top 3 themes being discussed about WAX in the past week are listed below. If possible we included a brief excerpt from the article — be sure to click through for the entire piece.

WAX Guild Candidate: Block Matrix – BlockMatrix

EOS Amsterdam Wax Guild Candidacy Announcement – EOS Amsterdam

Why Wax Is A Creepy Horror Theme – Justin Bienvenue

Where to Buy

You can trade Wax, listed under the symbol WAX, through the following exchanges: Gate, Ethfinex.

Article by SixJupiter

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