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Price Action

Over the past week, USD Coin saw its price go down by 0%. It is below its 20 day moving average by 0.07%, which is quite close. USD Coin’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. Now when considering volatility, USD Coin is more prone to sizable price moves than 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 USD Coin to experience a price range in US dollars between 0.9989009 and $1.004439.

Where to trade USD Coin (symbol: USDC): Gate, Yobit, Stex, Binance, DDEX, ETHfinex

Volume Update

In the week prior, the daily volume for USD Coin has ranged between 9,217.85 and 170,260.3 currency units. In the three weeks prior, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. USD Coin experienced a turnover rate of about 0.02% 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 3.49% 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

USD Coin saw the number of wallets holding its coin go from 85,686 to 88,924 over the past week — a change of 3.78%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 1,139,284 to 1,190,665, which translates to growth of 4.51% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of USD Coin is thus at 8.29% which, relatively speaking, is ahead of 90.87% of the cryptocurrencies we’re tracking. This growth rate suggests the coin may be on track to getting and sustaining actual usage.

Technology Development Status

USD Coin currently has 2 public repositories on GitHub, with the oldest one now 1.94 years young. Its most recent public update was within the past week which is not bad, as the coin is still being updated routinely. USD Coin’s public repos now have 104 which is below average relative to its peers; that’s more than only 31 % of the 100 similar coins in our index. The coin has 4 total outstanding issues across all 2 of its public repositories on GitHub. 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 USD Coin’s GitHub repos is more favorable than 74% of similar coins in our index.

Article by SixJupiter


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