Try Quests to earn cryptoTerra Altcoin Behavior
In response to: Question 143: Select a Terra “altcoin” (i.e. not LUNA/ANC/MIR) and assess their performance over the past 90 days, using a metric of your choice (examples: price, number of transactions, volatility.) What do you think are the prospects for your chosen altcoin?
Introduction:
Pylon is one of the most important subsets of Blockchain Terra, and At the time of the release of this dashboard, the total value locked was $ 263.87m. The Pylon token MINE is a CW20 token originally launched on Pylon Gateway. The primary function of MINE is to allow holders to engage in protocol governance and earn a portion of protocol yields generated across all Pylon platforms and projects. MINE tokens also serve as an incentives gateway to encourage user deposits into platforms powered by Pylon Protocol. It has a circulating supply of 1.1 Billion MINE coins and a total supply of 10 Billion.
Mine Price Analysis: The chart below shows the price of the MINE token in the last 90 days. This chart can be analyzed in two time periods. The first period is before January, and the price trend is relatively sideways. The second part is included from the beginning of January onwards. During this period, the power of supply was more than demand, and therefore we saw a downward trend. In these periods, the MINE price ceiling and the floor have been equal to 0.1224 and 0.03737, which has dropped 30% from its High.
MINE price Volatility: The price volatility equals the highest price minus the lowest price. The line chart below shows MINE buying and selling with the highest and lowest prices, obtained by subtracting these two fluctuations, shown in the area chart. This chart is also divided into two parts, the first part is before January 4th and has the most volatility, but in the second part, the volatility is greatly reduced.
Number of Transactions: Like the previous charts, the following area chart confirms that the number of transactions has decreased since the beginning of January, and the highest number of transactions occurred before January and in November. During the last three months, the number of transactions has been declining, and there is still no sign of a change in the direction of the trend for this token.
According to the dashboard diagrams, price and on-chain information directly correlate between November and February. Thus, before January, the market volatility was more, and the number of transactions was relatively higher. However, the overall market trend declined after January, and the number of transactions and volatility decreased.