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 0.31%. It is above its 20 day moving average by 0.03%, 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. Regarding volatility, True USD is more volatile than roughly 1% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. If volatility over the past three weeks is any indication of what’s to come, we can expect True USD to bounce between 0.9980369 and $1.003313 US dollars per coin.

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

Volume Update

In the span of the preceding 7 days, TrueUSD’s daily volume, in terms of its own unit of currency, has fluctuated between 53,121.51 and 484,427.9. Over the past three weeks, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. The past 7 days saw TrueUSD’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.15%. This turnover rate is higher than approximately 20.93% of the cryptocurrencies we monitor, which means it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.

Engagement Update

Over the past week, True USD saw its holders go from 23,366 to 23,905, an increase of 2.31%. As for overall transactions, they increased from 381,693 to 389,872 — an increase of 2.14%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of True USD is thus at 4.45% which, relatively speaking, is ahead of 92.04% of the cryptocurrencies we’re tracking. This could indicate that the coin may be on track to getting and sustaining actual usage.

Technology Development Status

At the moment, TrueUSD has 13 repositories open to the public on GitHub, with the oldest one now being 1.76 years young. Its most recent public update was within the past week which is not bad, as the coin is still being updated routinely. TrueUSD’s public repositories collectively have a total of 137 watchers, which is below average relative to its peers; that’s more than only 30 % of the 100 similar coins in our index. The coin has 7 total outstanding issues across all 13 of its public repositories on GitHub. Its number of watchers, when viewed against 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.