How Did Chainlink’s Price Fare Yesterday?
Chainlink’s current price, at the time of this writing, is $2.832 USD, up by approximately 3.58% from the day prior. This marked the the 3rd consecutive day Chainlink has been up; it is still in an uptrend, and is currently 23.1% above its 20 day moving average; staying above this level may be critical to sustain short-term momentum. From another vantage point, note that price has gone up 4 of the past 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 43.21% 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 $1.840759 and $2.760541. 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 $994 million US dollars.
Update on Transactions and Holders
6,670 transactions amongst holders of Chainlink occurred yesterday. In terms of estimating the number of holders, over the past day the total number of wallets holding Chainlink has gone up by approximately 487. 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 1,675 wallets making a transfer this past day and 33,258 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 261.54% of the token’s total money supply. To further clarify, our supply metric focuses only on supply that is publicly available while many large holders may have tokens they are not able to sell yet — which is why this value can exceed 100%. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 4.04% of the currency’s money supply. Exchange ownership grew by 0.19% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by 0.01% over that time period.
Chainlink’s Social Media Presence
In the past day, Chainlink’s Twitter followers and Reddit subscribers went up by 58 and 26, respectively. Traders interested in following Chainlink has the biggest presence on Twitter, where it has 47,754 users engaged. Here is the Twitter page for Chainlink.
Article by SixJupiter
