Chainlink: What’s the Latest Regarding its Price?
Chainlink is up by approximately 0.61% from the previous day, with its price currently hovering around $2.294 USD. Chainlink enters the day 6.49% above its 20 day moving average, and is experiencing its the 4th consecutive day up. To help contextualize yesterday’s price move, we can observe that price has rallied 7 of the past 10 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 77.35% 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 $1.938981 and $2.369519. As we are closer to the top of that range, rangebound traders may wish to consider exploring shorting opportunities.
As for Chainlink’s market cap, it is currently at about $804M US dollars.
Straight Off the Chain
Over the past 24 hours, 3,446 transfers have been added to the blockchain recording transactions amongst holders of Chainlink. Regarding a tally of holders, Yesterday saw Chainlink’s wallet count increase by 284. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.03, with 1,165 wallets making a transfer this past day and 35,469 wallets having made a transfer in the past month.
Observing Chainlink’s Richest Wallets
And in regards to wealth distribution, note that the top 1,000 Chainlink wallets hold over 261.58% of the token’s total 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. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 4.06% of the currency’s total 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 -0.21% over that time period.
The Latest on Chainlink and Social Media
In the past day, Chainlink’s Twitter followers and Reddit subscribers went up by 255 and 30, 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
