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Price Action

In the week prior, the price for 0x went up by 12.46%. It is above its 20 day moving average by 14.66%, so it’s a bit of a ways off. 0x’s bullish momentum, based on its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. Now when considering volatility, 0x is more prone to sizable price moves than 60% 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 0x to bounce between 0.1658016 and $0.2198684 US dollars per coin.

Where to trade 0x (symbol: ZRX): Gate, Yobit, Stex, Binance, DDEX, ETHfinex

Volume Update

Over the past week, 0x saw its daily volume range between 554,201.2 and 14,145,037 units of its own currency. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. The past 7 days saw 0x’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.72%. Its turnover rate is more than approximately 47.67% 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

0x saw the number of wallets holding its coin go from 119,595 to 120,670 over the past week — a change of 0.90%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 1,079,683 to 1,092,477, which translates to growth of 1.18% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of 0x is thus at 2.08% which, relatively speaking, is ahead of 81.11% of the cryptocurrencies we’re tracking. This growth rate suggests the coin may be on track to getting and sustaining actual usage.

Technology Development Status

At the moment, 0x has 30 repositories open to the public on GitHub, with the oldest one now being 2.68 years young. Its most recent public update was within the past week which is not bad, as the coin is still being updated routinely. 0x’s public repositories collectively have a total of 2077 watchers, which is very impressive; that’s more than 84 % of the top 100 coins we compare it to. The coin has 204 outstanding issues in the backlog awaiting to be addressed by the core development team. Relative to the number of watchers it has, though, its open issues count is fairly mediocre. We consider the GitHub open issue/watcher ratio as a potential indicator of the healthiness of a coin’s software development process, and for 0x we see that its issue/watcher ratio looks healthier than 51% of similar coins in our index.

Article by SixJupiter


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