Advertisement

100X Leverage Trading With PrimeXBT 

Price Action

In the week prior, the price for USD Coin went down by -0.3%. It is below its 20 day moving average by 0.11%, which is quite close. USD Coin’s bullish momentum, determined by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. In terms of volatility, USD Coin exhibits greater price volatility than approximately 2% 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 0.9969119 and $1.003298 US dollars per coin.

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

Volume Update

In the span of the preceding 7 days, USD Coin’s daily volume, in terms of its own unit of currency, has fluctuated between 2,697.63 and 54,833.96. Over the past three weeks, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. 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%. Its turnover rate is more than approximately 4.76% 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.

Advertisement

Cryptocurrency Courses From £5 | Mega Discount Inside (Limited Time Only)

WIN $250 WORTH OF BITCOIN

Engagement Update

USD Coin saw the number of wallets holding its coin go from 58,218 to 60,053 over the past week — a change of 3.15%. And in regards to cumulative transactions logged on the blockchain, they went from 698,214 to 719,320, which amounts to a change of 3.02%. USD Coin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 6.17% which puts it ahead of 93.29% of the coins in our index. 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 1.59 years young. Its last public update to any of its repositories was within the past week which is not bad, as the coin is still being updated routinely. USD Coin’s public repos now have 90 which is below average relative to its peers; that’s more than only 20 % of the 100 similar coins in our index. The coin has 2 total outstanding issues across all 2 of its public repositories on GitHub. Its number of watchers, when viewed against 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 89% of similar coins we’re tracking.

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.