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Price Action

In the week prior, the price for Paxos Standard went up by 0.1%. It is above its 20 day moving average by 0.09%, which is quite close. Paxos Standard’s bullish momentum, based on its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. In terms of volatility, Paxos Standard exhibits greater price volatility than approximately 0% 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 Paxos Standard in US dollars is expected to be between $0.9990931 and $1.003067.

Where to trade Paxos Standard (symbol: PAX): Gate, Yobit, Stex, Binance, DDEX, ETHfinex

Volume Update

Over the past week, Paxos Standard Token saw its daily volume range between 143,595.9 and 526,511.8 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. Paxos Standard Token experienced a turnover rate of about 0.18% over the past week, which means that is the percent of its available money supply that is traded daily. Its trading turnover percentage is higher than about 17.86% of the coins we’re tracking, 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

The number of wallets holding Paxos Standard went from 26,593 to 27,319 in the past week, marking a change of 2.73%. And in regards to cumulative transactions logged on the blockchain, they went from 226,272 to 236,039, which amounts to a change of 4.32%. This translates to a combined engagement growth rate of 7.05% for Paxos Standard — which is higher than 93.71% 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

Paxos Standard Token currently has 30 public repositories on GitHub, with the oldest one now 2.73 years young. Its last public update to any of its repositories was within the past week which is not bad, as the coin is still being updated routinely. Paxos Standard Token’s repos that are visible to the public collectively have 21 watchers — it bests only 15 % 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. In comparison 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 Paxos Standard Token’s GitHub repos is more favorable than 70% of similar coins in our index.

Article by SixJupiter


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