Over the past week, USD Coin saw its price go down by -0.1%. It is below its 20 day moving average by 0.09%, 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 0% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for USD Coin in US dollars is expected to be between $0.9993239 and $1.002476.
Over the past week, USD Coin saw its daily volume range between 3,594.35 and 205,549 units of its own currency. In the three weeks prior, the trend in volume does not have a clear direction, while the price trend is clearly down. Over the past week, USD Coin saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.02%. Its turnover rate is more than approximately 6.02% 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.
Over the past week, USD Coin saw its holders go from 62,505 to 63,725, an increase of 1.95%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 744,584 to 762,594, which translates to growth of 2.42% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of USD Coin is thus at 4.37% which, relatively speaking, is ahead of 92.83% 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 repos on GitHub, with the oldest one clocking in at 1.63 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 94 watchers, which is below average relative to its peers; that’s more than only 22 % of the 100 similar coins in our index. The coin has 2 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 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 90% of similar coins we’re tracking.
Article by SixJupiter