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Price Action

Since last week, HedgeTrade’s price went down by -8.11%. It is below its 20 day moving average by 4.04%, so it’s slightly away. HedgeTrade’s bullish momentum, determined by its distance from its 20 day moving average, is pretty far negative compared to the other coins we’re covering, and thus may be due for a correction upwards or some kind of a period of low volatility. In terms of volatility, HedgeTrade exhibits greater price volatility than approximately 24% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. Based on volatility over the past three weeks, we can expect HedgeTrade to experience a price range in US dollars between 0.6784405 and $0.8298395.

Where to trade HedgeTrade (symbol: HEDG): Gate, Yobit, Stex, Binance, DDEX, ETHfinex

Volume Update

Over the past week, HedgeTrade saw its daily volume range between 3,939.19 and 365,815.5 units of its own currency. In the three weeks prior, volume has a clearn upwards trend, but the trend in price is not as clear. HedgeTrade experienced a turnover rate of about 0.06% over the past week, which means that is the percent of its available money supply that is traded daily. Its turnover rate is more than approximately 13.98% 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

HedgeTrade saw the number of wallets holding its coin go from 1,408 to 1,410 over the past week — a change of 0.14%. As for overall transactions, they increased from 16,772 to 17,150 — an increase of 2.25%. This translates to a combined engagement growth rate of 2.39% for HedgeTrade — which is higher than 88.37% of the cryptocurrencies we’re reporting on. This growth rate suggests the coin may be on track to getting and sustaining actual usage.

Technology Development Status

At the moment, HedgeTrade has 5 repositories open to the public on GitHub, with the oldest one now being 1.91 years young. Its last public update to any of its repositories was more than a week ago which is potentially concerning; more than a week without an update may suggest development is too slow. HedgeTrade’s public repos now have 5 which is very bad on a relative basis; it bests only 9 % of the 100 similar coins in our index. The coin has 1 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, is a bit below average, and thus potentially concerning. We view the ratio of open issues on HedgeTrade’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 HedgeTrade we see that it fares better than only 31% of the coins we group HedgeTrade in.

Article by SixJupiter


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