Price Action
In the week prior, the price for Chainlink went up by Inf%. It is above its 20 day moving average by 43.39%, so it’s very far away. Chainlink’s bullish momentum, if assessed by 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. Regarding volatility, Chainlink is more volatile than roughly 96% of coins in our index, so bear that in mind if you decide to trade it. If volatility over the past three weeks is any indication of what’s to come, we can expect Chainlink to bounce between 0.188812 and $4.669388 US dollars per coin.
Where to trade Chainlink (symbol: LINK): Gate, Yobit, Binance, DDEX
Volume Update
In the week prior, the daily volume for Chainlink has ranged between 0 and 26,808,953 currency units. In the three weeks prior, the trend in volume is not clear, though price is marching upwards. Over the past week, Chainlink saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 3.78%. This turnover rate is higher than approximately 64.71% of the cryptocurrencies we monitor, which means it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
Over the past week, Chainlink saw its holders go from 36,154 to 45,961, an increase of 27.13%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 297,559 to 358,454, which translates to growth of 20.46% for the week. Chainlink’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 47.59% which puts it ahead of 97.06% 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
Chainlink currently has 30 public repos on GitHub, with the oldest one clocking in at 2.81 years young. Its last public update to any of its repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Chainlink’s public repositories collectively have a total of 777 watchers, which is pretty good, relatively speaking; specifically, that’s more than 65 % of the top 100 coins we’re looking at. The coin has 27 total outstanding issues across all 30 of its public repositories on GitHub. Relative to the number of watchers it has, though, its open issues count seems to be in good shape. To elaborate: the ratio of open issues to developers who are watching Chainlink’s GitHub repos is more favorable than 76% of similar coins in our index.
Chainlink News and Commentary
We found 2 links over the past week about Chainlink that we thought were especially worth sharing. Where available, we included a snippet of the article that we thought might be interesting.
The Basics – Understanding Basic Chainlink Tokenomics
ChainLink — Crypto News – Cryptonomad.info
Where to Buy
You can trade Chainlink, listed under the symbol LINK, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
