How Did Chainlink’s Price Fare Yesterday?
Chainlink’s current price, at the time of this writing, is $3.488 USD, up by approximately 0.09% from the day prior. This marked the the 2nd consecutive day Chainlink has been up; it is still in an uptrend, and is currently 23.84% 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. And in terms of volume, yesterday’s price move ocurred on volume that was 80.12% 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 $1.970812 and $3.662388. Price’s current proximity to the top of the range may make selling an attractive opportunity to traders interested in trading 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 $1,223 million.
Update on Transactions and Holders
5,320 transactions amongst holders of Chainlink occurred yesterday. As for the number of holders, yesterday saw the number of wallets holding Chainlink increase by 573. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 1,805 wallets making a transaction yesterday, while 31,555 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.06.
Observing Chainlink’s Richest Wallets
As for wealth distribution, the richest 1,000 wallets currently own 261.36% of the money supply. Ownership exceeding 100% is due to the fact that our supply metric is focused just on available supply, and some large owners of Chainlink have ownership they cannot sell at this time — but may be able to in the future. The percent of the currency that is owned by wallets that are both belonging to exchanges and in the top 1,000 richest wallets of the token comes out to 3.87% 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 -0.17%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.14%.
What’s Going on Social Media?
In the past day, Chainlink’s Twitter followers and Reddit subscribers went up by 143 and 36, respectively. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Here is the Twitter page for Chainlink.
Article by SixJupiter
