Over the past week, True USD saw its price go up by 0.3%. It is above its 20 day moving average by 0.36%, which is quite close. True USD’s bullish momentum, based on its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. 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. Based on volatility over the past three weeks, we can expect True USD to experience a price range in US dollars between 0.9984212 and $1.004349.
Over the past week, TrueUSD saw its daily volume range between 143,811.2 and 526,774.8 units of its own currency. Over the past three weeks, the trend in both volume and price have clearly been up. Over the past week, TrueUSD saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.2%. Its trading turnover percentage is higher than about 20.24% of the coins we’re tracking, so it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.
True USD saw the number of wallets holding its coin go from 23,079 to 23,366 over the past week — a change of 1.24%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 372,466 to 381,693, which translates to growth of 2.48% for the week. True USD’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 3.72% which puts it ahead of 90.39% 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
TrueUSD currently has 13 public repositories on GitHub, with the oldest one now 1.74 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 139 watchers, which is below average relative to its peers; that’s more than only 26 % of the 100 similar coins in our index. The coin has 7 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 69% of similar coins in our index.
TrueUSD News and Commentary
We found one link over the past week about TrueUSD that we thought was especially worth sharing. Where available, we included a snippet of the article that we thought might be interesting.
The report notes that the digital wallet on Samsung’s new phone now supports 33 digital currencies in total, including Bitcoin (BTC), Binance’s native token Binance Coin (BNB) and Ether (ETH).
Article by SixJupiter