Price Action
In the week prior, the price for ChainLink went down by -14.49%. It is below its 20 day moving average by 13.31%, so it’s somewhat away. ChainLink’s bullish momentum, based on its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Now when considering volatility, ChainLink is more prone to sizable price moves than 35% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. Based on volatility over the past three weeks, we can expect ChainLink to experience a price range in US dollars between 0.4352531 and $0.5800469.
Where to trade Chainlink (symbol: LINK): Gate, Yobit, Binance, DDEX
Volume Update
In the week prior, the daily volume for Chainlink has ranged between 2,666,455 and 6,514,930 currency units. Over the past three weeks, the trend in volume does not have a clear direction, while the price trend is clearly down. Over the past week, Chainlink saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 1.36%. Its trading turnover percentage is higher than about 39.18% of the coins we’re tracking, so it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.
Engagement Update
ChainLink saw the number of wallets holding its coin go from 27,141 to 27,208 over the past week — a change of 0.25%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 192,657 to 193,783, which translates to growth of 0.58% for the week. This translates to a combined engagement growth rate of 0.83% for ChainLink — which is higher than 58.82% of the cryptocurrencies we’re reporting on. One interpretation of this may be that the coin’s weekly growth in engagement is fairly mediocre.
Technology Development Status
Chainlink currently has 30 public repositories on GitHub, with the oldest one now 2.96 years young. Its last public update to any of its repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Chainlink’s public repositories collectively have a total of 659 watchers, which is about average compared to other similar coins; that’s more than approximately 59 % of coins in its index. The coin has 19 outstanding issues in the backlog awaiting to be addressed by the core development team. In comparison to the number of watchers it has, though, its open issues count doesn’t seem like something to worry about. To put the situation in context, Chainlink has a better issue/watcher ratio on its GitHub than 84% of similar coins we’re tracking.
Chainlink News and Commentary
We found one link over the past week about Chainlink that we thought was especially worth sharing. Where available, we included a snippet of the article that we thought might be interesting.
Lend, Borrow or Margin Trade Chainlink (LINK) on Nuo
Where to Buy
You can trade Chainlink, listed under the symbol LINK, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
