Chainlink Price Update
Chainlink is up by approximately 0.95% from the previous day, with its price currently hovering around $3.817 USD. This marked the the 5th day in a row Chainlink has been up; it is still in an uptrend, and is currently 12.7% above its 20 day moving average; staying above this level may be critical to sustain short-term momentum. Another data point we may find worthy of observation is that price for Chainlink has increased 5 of the previous 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 78.95% 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 $2.963414 and $3.810186. As we are closer to the top of that range, rangebound traders may wish to consider exploring selling opportunities.
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 $1,337 million.
Straight Off the Chain
Over the past 24 hours, 4,519 transfers have been added to the blockchain recording transactions amongst holders of Chainlink. Regarding a tally of holders, Yesterday saw Chainlink’s wallet count rise by 557. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.05, with 1,547 wallets making a transfer this past day and 31,260 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 260.56% of the token’s total 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 2.87% of the currency’s money supply. Exchange ownership grew by -1.02% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.76% over that time period.
What’s Going on Social Media?
In terms of social media presence, Chainlink saw its Twitter followers and Reddit subscribers go up by 308 and 93 over the past 24 hours. 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
