Advertisement

Get $10 Free Crypto | Open Your Bybit Trading Account Now

Price Action

In the week prior, the price for True USD went up by 0.2%. It is above its 20 day moving average by 0.39%, which is quite close. True USD’s bullish momentum, based on 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, True USD 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. Based on volatility over the past three weeks, we can expect True USD to experience a price range in US dollars between 0.9960012 and $1.004199.

Where to trade True USD (symbol: TUSD): Gate, Yobit, Stex, Binance, DDEX, ETHfinex

Volume Update

In the week prior, the daily volume for TrueUSD has ranged between 8,020.91 and 109,924.8 currency units. In the three weeks prior, the trend in volume is not clear, though price is marching upwards. TrueUSD experienced a turnover rate of about 0.03% 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 7.37% 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

True USD saw the number of wallets holding its coin go from 25,405 to 25,725 over the past week — a change of 1.26%. As for overall transactions, they increased from 435,040 to 440,964 — an increase of 1.36%. This translates to a combined engagement growth rate of 2.62% for True USD — which is higher than 88.45% 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

TrueUSD currently has 13 public repositories on GitHub, with the oldest one now 1.9 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. TrueUSD’s public repositories collectively have a total of 145 watchers, which is below average relative to its peers; that’s more than only 34 % of the 100 similar coins in our index. The coin has 8 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 seems to be in good shape. To elaborate: the ratio of open issues to developers who are watching TrueUSD’s GitHub repos is more favorable than 68% of similar coins in our index.

Article by SixJupiter

Advertisement

Get $10 Free Crypto | Open Your Bybit Trading Account Now

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.