April 1, 2020: Chainlink (LINK): Up 0.62%; 3rd Straight Up Day

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Chainlink Price Update

At the time of this writing, Chainlink has a price of $2.28 USD, which puts it up by approximately 0.62% from yesterday. Chainlink is currently in a unclear , and it should be noted that this is now the the 3rd straight day that price has been up. Moreover, Chainlink is now 5.45% above its 20 day moving average. Another data point we may find worthy of observation is that price for Chainlink has increased 7 of the previous 10 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 56.98% less than its 7 day average volume.

Traders looking for a range to trade within may wish to note that the Bollinger bands (a price indicator based on recent momentum and volatility) for Chainlink imply the currency may oscillate between $1.950891 and $2.373609, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain selling, as we are nearer to the top 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 $798 million.

Straight Off the Chain

Over the past 24 hours, 3,397 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 jump by 385. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 1,184 wallets making a transaction yesterday, while 35,655 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.03.

Observing Chainlink’s Richest Wallets

As for wealth distribution, the richest 1,000 wallets currently own 261.53% of the 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 3.85% 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 -0.24%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.15%.

Chainlink’s Social Media Presence

If you are interested in following Chainlink on social media, Twitter, where it has 47,185 following it, may be a good place to start. Here is the Twitter page for Chainlink.

Article by SixJupiter

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