How Did Chainlink’s Price Fare Yesterday?
Chainlink is down by approximately 4.79% from the previous day, with its price currently hovering around $3.539 USD. Chainlink enters the day 2.8% below its 20 day moving average, and is experiencing its the 2nd straight day down. To help contextualize yesterday’s price move, we can observe that price has rallied 2 of the past 5 days. And in terms of volume, yesterday’s price move ocurred on volume that was 51.04% less than its 7 day average volume.
As for Chainlink’s expected trading range — as forecasted by the Bollinger bands indicator, which determines a range based on momentum and volatility over the past two weeks — is between $3.422779 and $3.859121. Price’s current proximity to the bottom of the range may make buying an attractive opportunity to traders interested in trading the range.
The currency’s market cap currently stands at $1,241 million US dollars.
Update on Transactions and Holders
Yesterday saw 4,426 transfers amongst holders of Chainlink. As for the number of holders, yesterday saw the number of wallets holding Chainlink rise by 406. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 1,395 wallets making a transaction yesterday, while 35,912 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.04.
How are the Strong Holders of Chainlink Faring?
And in regards to wealth distribution, note that the top 1,000 Chainlink wallets hold over 260.93% of the token’s total money supply. To further clarify, our supply metric focuses only on supply that is publicly available while many large holders may have tokens they are not able to sell yet — which is why this value can exceed 100%. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 2.68% of the currency’s money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.14%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.04%.
The Latest on Chainlink and Social Media
Social media growth, in terms of Twitter followers and Reddit subscribers, came in at up 1401 and 75 over the past day for Chainlink. If you are interested in following Chainlink on social media, Twitter, where it has 52,295 following it, may be a good place to start. You can follow Chainlink on Twitter here.
Article by SixJupiter
