Worldwide Asset EXchange (WAX) June 10, 2019 Weekly Summary: Price Up 23.63%

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Price Action

Since last week, Worldwide Asset eXchange’s price went up by 23.63%. It is above its 20 day moving average by 17.05%, so it’s a bit of a ways off. Worldwide Asset eXchange’s bullish momentum, if assessed by its distance from its 20 day moving average, is well above average relative to its peers, and thus may be a sign the market for the coin is overheating and due to correct downwards. Regarding volatility, Worldwide Asset eXchange is more volatile than roughly 72% of coins in our index, so traders can expect a bit more volatility than usual. Based on volatility over the past three weeks, we can expect Worldwide Asset eXchange to experience a price range in US dollars between 0.06224499 and $0.09493801.

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 2,605,934 and 93,678,531 currency units. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. The past 7 days saw WAX’s trading turnover — meaning the percentage of its available supply that was traded — come in at 1.89%. Its turnover rate is more than approximately 47.42% of the cryptocurrencies in our index, so it’s middle-of-the-pack; investors/traders may thus wish to consider their liquidity requirements to make sure the coin matches their needs and their expected trading volume.

Engagement Update

Worldwide Asset eXchange saw the number of wallets holding its coin go from 16,314 to 16,384 over the past week — a change of 0.43%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 160,082 to 162,259, which translates to growth of 1.36% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Worldwide Asset eXchange is thus at 1.79% which, relatively speaking, is ahead of 57.14% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin’s weekly growth in engagement is fairly mediocre.

Technology Development Status

At the moment, WAX has 3 repositories open to the public on GitHub, with the oldest one now being 1.52 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 public repositories collectively have a total of 38 watchers, which is below average relative to its peers; that’s more than only 22 % 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 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 71% of similar coins in our index.

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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