Price Action
In the week prior, the price for ChainLink went up by 19.4%. It is above its 20 day moving average by 6.41%, so it’s slightly away. ChainLink’s bullish momentum, based on its distance from its 20 day moving average, is well above average relative to its peers, and thus may be a sign the market for the coin is overheating and due to correct downwards. In terms of volatility, ChainLink exhibits greater price volatility than approximately 38% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for ChainLink in US dollars is expected to be between $0.4210494 and $0.5472806.
Where to trade Chainlink (symbol: LINK): Gate, Yobit, Binance, DDEX
Volume Update
In the week prior, the daily volume for Chainlink has ranged between 1,130,643 and 6,318,404 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. The past 7 days saw Chainlink’s trading turnover — meaning the percentage of its available supply that was traded — come in at 1.15%. This turnover rate is higher than approximately 40.62% of the cryptocurrencies we monitor, which means it’s middle-of-the-pack; investors/traders may thus wish to consider their liquidity requirements to make sure the coin matches their needs and their expected trading volume.
Engagement Update
ChainLink saw the number of wallets holding its coin go from 27,208 to 27,398 over the past week — a change of 0.70%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 193,783 to 196,925, which translates to growth of 1.62% for the week. This translates to a combined engagement growth rate of 2.32% for ChainLink — which is higher than 53.12% of the cryptocurrencies we’re reporting on. This growth rate suggests the coin’s weekly growth in engagement is fairly mediocre.
Technology Development Status
At the moment, Chainlink has 30 repositories open to the public on GitHub, with the oldest one now being 2.64 years young. Its most recent public update was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Chainlink’s repos that are visible to the public collectively have 651 watchers — that’s more than approximately 57 % of coins in its index. The coin has 16 total outstanding issues across all 30 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, Chainlink has a better issue/watcher ratio on its GitHub than 88% of similar coins we’re tracking.
Chainlink News and Commentary
The top theme being discussed about Chainlink in the past week is listed below. If available, we added an excerpt from the article to help give a taste of what it is about.
“Switchain”How to Exchange USD with Chainlin
Snippet:
As you click on Exchange with Shapeshift, you may see a screen wherever you’ll be able to enter your ERC-20 compatible pocketbook address (Metamask or Myetherwallet, for example) for Chainlink (LINK) wherever you may receive your new assets, however additionally a pocketbook wherever you’ll be able to receive any potential refund that may ought to happen….Switchain compares exchange rates on many totally different platforms and offers you clear comparison of what you’re trying to induce if you employ any explicit one amongst them.
Where to Buy
You can trade Chainlink, listed under the symbol LINK, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
