In the week prior, the price for Dai went up by 0.1%. It is above its 20 day moving average by 0%, which is quite close. Dai’s bullish momentum, determined by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. In terms of volatility, Dai exhibits greater price volatility than approximately 3% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Dai in US dollars is expected to be between $1.001352 and $1.008748.
In the week prior, the daily volume for Dai has ranged between 34,372.38 and 866,884.8 currency units. In the three weeks prior, the trend in volume is not clear, though price is marching upwards. Over the past week, Dai saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.3%. Its turnover rate is more than approximately 24.18% of the cryptocurrencies in our index, so it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.
Over the past week, Dai saw its holders go from 179,831 to 186,898, an increase of 3.93%. And in regards to cumulative transactions logged on the blockchain, they went from 2,498,041 to 2,572,251, which amounts to a change of 2.97%. Dai’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 6.90% which puts it ahead of 95.15% of the coins in our index. This could indicate that the coin may be on track to getting and sustaining actual usage.
Technology Development Status
At the moment, Maker has 60 repositories open to the public on GitHub, with the oldest one now being 4.14 years young. Its last public update to any of its repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Maker’s repos that are visible to the public collectively have 1208 watchers — specifically, that’s more than 73 % of the top 100 coins we’re looking at. The coin has 232 total outstanding issues across all 60 of its public repositories on GitHub. In comparison to the number of watchers it has, though, its open issues count is a bit below average, and thus potentially concerning. We view the ratio of open issues on Maker’s GitHub repos relative to the number of developers who follow its repos as a way to quantitatively assess the health of a coin’s software development processes, and for Maker we see that it fares better than only 32% of the coins we group Maker in.
Article by SixJupiter