Chainlink (LINK) July 1, 2019 Weekly Recap: Price Up 85.41%

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Price Action

Over the past week, Chainlink saw its price go up by 85.41%. It is above its 20 day moving average by 58.58%, so it’s very far away. Chainlink’s bullish momentum, if assessed by its distance from its 20 day moving average, is well above average relative to its peers, and thus may be a sign the market for the coin is overheating and due to correct downwards. In terms of volatility, Chainlink exhibits greater price volatility than approximately 93% of coins in our index, so bear that in mind if you decide to trade it. Based on volatility over the past three weeks, we can expect Chainlink to experience a price range in US dollars between 0.6685821 and $3.690218.

Where to trade Chainlink (symbol: LINK): Gate, Yobit, Binance, DDEX

Volume Update

In the span of the preceding 7 days, Chainlink’s daily volume, in terms of its own unit of currency, has fluctuated between 1,556,556 and 33,952,726. Looking back over past 21 days, volume has trended downwards, but price has gone in the opposite direction — up. The past 7 days saw Chainlink’s trading turnover — meaning the percentage of its available supply that was traded — come in at 3.02%. Its trading turnover percentage is higher than about 56.86% of the coins we’re tracking, so it’s middle-of-the-pack; investors/traders may thus wish to consider their liquidity requirements to make sure the coin matches their needs and their expected trading volume.

Engagement Update

Chainlink saw the number of wallets holding its coin go from 30,590 to 43,494 over the past week — a change of 42.18%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 282,157 to 330,971, which translates to growth of 17.30% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Chainlink is thus at 59.48% which, relatively speaking, is ahead of 96.97% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin may be on track to getting and sustaining actual usage.

Technology Development Status

Chainlink currently has 30 public repositories on GitHub, with the oldest one now 2.79 years young. The last recorded update to its public 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 repos that are visible to the public collectively have 737 watchers — specifically, that’s more than 73 % of the top 100 coins we’re looking at. The coin has 24 outstanding issues in the backlog awaiting to be addressed by the core development team. Relative to the number of watchers it has, though, its open issues count seems to be in good shape. To elaborate: the ratio of open issues to developers who are watching Chainlink’s GitHub repos is more favorable than 69% of similar coins in our index.

Chainlink News and Commentary

Over the past week, we found 2 links about Chainlink that we found especially interesting. If available, we added an excerpt from the article to help give a taste of what it is about.

Bringing Schiphol’s Flight Status API to Ethereum Apps with C

Chainlink (LINK) is launching on Coinbase Pro – The Coinb

Where to Buy

You can trade Chainlink, listed under the symbol LINK, through the following exchanges: Gate, Yobit, Binance, DDEX.

Article by SixJupiter

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