How Did Chainlink’s Price Fare Yesterday?
Chainlink is down by approximately 2.55% from the previous day, with its price currently hovering around $3.328 USD. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in an up trend, and is currently 28.48% above its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. To help contextualize yesterday’s price move, we can observe that price has rallied 3 of the past 5 days. And in terms of volume, yesterday’s price move ocurred on volume that was 48.49% 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 $1.61307 and $3.56763, based on how price has behaved in the two weeks prior. As we are closer to the top of that range, rangebound traders may wish to consider exploring shorting opportunities.
The currency’s market cap currently stands at $1,167 million US dollars.
Daily Engagement Metrics Update
Over the past 24 hours, 5,975 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 rise by 623. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 1,764 wallets making a transaction yesterday, while 32,388 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.05.
Just How Rich are Chainlink’s Richest Holders?
As for wealth distribution, the richest 1,000 wallets currently own 261.41% 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 3.99% of the currency’s money supply. Exchange ownership grew by -0.07% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.09% over that time period.
The Latest on Chainlink and Social Media
Social media growth, in terms of Twitter followers and Reddit subscribers, came in at up 158 and 54 over the past day for Chainlink. Traders interested in following Chainlink has the biggest presence on Twitter, where it has 48,483 users engaged. You can follow Chainlink on Twitter here.
Article by SixJupiter
