How Did Chainlink’s Price Fare Yesterday?
Chainlink is up by approximately 6.43% from the previous day, with its price currently hovering around $3.326 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 21.32% 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 9 of the past 14 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 56.24% 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 $1.862427 and $3.620673. Price’s current proximity to the top of the range may make shorting an attractive opportunity to traders interested in trading the range.
The currency’s market cap currently stands at $1,164 million US dollars.
Update on Transactions and Holders
4,644 transactions amongst holders of Chainlink occurred yesterday. As for the number of holders, yesterday saw the number of wallets holding Chainlink jump by 545. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 1,628 wallets making a transaction yesterday, while 31,531 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 261.29% of the money supply. This number is greater than 100% because many of the token holders are not able to sell them yet, and thus their numbers are not included in the supply yet, though they can be regarded as future sellers when they are able to sell. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 3.67% of the currency’s money supply. Exchange ownership grew by -0.36% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.28% over that time period.
Chainlink’s Social Media Presence
In terms of social media presence, Chainlink saw its Twitter followers and Reddit subscribers go up by 111 and 48 over the past 24 hours. If you are interested in following Chainlink on social media, Twitter, where it has 48,931 following it, may be a good place to start. You can follow Chainlink on Twitter here.
Article by SixJupiter
