How Did Chainlink’s Price Fare Yesterday?
Chainlink is up by approximately 0.64% from the previous day, with its price currently hovering around $3.465 USD. The up day for Chainlink yesterday was a reversal from the day before it, which puts its price at 11.96% above its 20 day moving average. Over the past two weeks, price has been in an up trend. To help contextualize yesterday’s price move, we can observe that price has rallied 2 of the past 5 days. And in terms of volume, yesterday’s price move ocurred on volume that was 72.15% 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 $2.742718 and $3.446882, 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 $1,210 million.
Straight Off the Chain
Over the past 24 hours, 5,003 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 increase by 540. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 1,453 wallets making a transaction yesterday, while 30,126 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.
Observing Chainlink’s Richest Wallets
In terms of wealth concentration, the richest 1,000 wallets own 261.04% of the coin’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. 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 3.39% 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 -0.44%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.43%.
The Latest on Chainlink and Social Media
Social media growth, in terms of Twitter followers and Reddit subscribers, came in at up 125 and 22 over the past day for Chainlink. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow Chainlink on Twitter.
Article by SixJupiter
