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Price Action

Over the past week, USD Coin saw its price go up by 0.3%. It is above its 20 day moving average by 0.35%, which is quite close. USD Coin’s bullish momentum, if assessed by 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, USD Coin exhibits greater price volatility than approximately 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 USD Coin to bounce between 0.9969874 and $1.003913 US dollars per coin.

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 8,024.92 and 109,869.9 currency units. Looking back over past 21 days, 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 0.01% 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 4.21% 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 72,074 to 73,254 over the past week — a change of 1.64%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 891,428 to 916,274, which translates to growth of 2.79% for the week. USD Coin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 4.43% which puts it ahead of 91.63% 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

USD Coin currently has 2 public repos on GitHub, with the oldest one clocking in at 1.75 years young. The last recorded update to its public repositories was within the past week which is not bad, as the coin is still being updated routinely. USD Coin’s public repositories collectively have a total of 97 watchers, which is below average relative to its peers; that’s more than only 28 % of the 100 similar coins in our index. The coin has 3 issues reported across its public repositories. In comparison to the number of watchers it has, though, its open issues count doesn’t seem like something to worry about. To put the situation in context, USD Coin has a better issue/watcher ratio on its GitHub than 81% of similar coins we’re tracking.

Article by SixJupiter


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