Chainlink: What’s the Latest Regarding its Price?
Chainlink is down by approximately 1.07% from the previous day, with its price currently hovering around $2.12 USD. This marked the the 2nd straight day Chainlink has been down; it is still in a downtrend, and is currently 43.68% below its 20 day moving average; staying above this level may be critical to sustain short-term momentum. Another data point we may find worthy of observation is that price for Chainlink has increased 1 of the previous 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 83.24% less than its 7 day average volume.
In terms of an expected trading range, the Bollinger bands on Chainlink suggest price may bounce between $1.696699 and $5.832201 based on its momentum and volatility over the past 14 days. Given its boundaries, rangebound traders may find it compelling to entertain buying, as we are nearer to the bottom of the range.
The market capitalization of Chainlink, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $743 million.
Straight Off the Chain
Over the past 24 hours, NA transfers have been added to the blockchain recording transactions amongst holders of Chainlink. As for the number of holders, yesterday saw the number of wallets holding Chainlink NA by NA. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.04, with 1,503 wallets making a transfer this past day and 35,868 wallets having made a transfer in the past month.
Just How Rich are Chainlink’s Richest Holders?
And in regards to wealth distribution, note that the top 1,000 Chainlink wallets hold over 261.49% of the token’s total money supply. Incidentally, this value exceeds 100% because many owners are not yet able to sell (due to contractual provisions), and our supply metric only observes liquid supply. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 2.63% of the currency’s total money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by 0.29% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.06%.
Chainlink’s Social Media Presence
Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow Chainlink on Twitter.
Article by SixJupiter
