Price Action
Since last week, Chainlink’s price went down by -18.81%. It is below its 20 day moving average by 15.5%, so it’s slightly away. Chainlink’s bullish momentum, if assessed by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. In terms of volatility, Chainlink exhibits greater price volatility than approximately 79% of coins in our index, so traders can expect a bit more volatility than usual. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Chainlink in US dollars is expected to be between $2.305537 and $4.120163.
Where to trade Chainlink (symbol: LINK): Gate, Yobit, Binance, DDEX
Volume Update
In the week prior, the daily volume for Chainlink has ranged between 2,197,366 and 29,287,058 currency units. Looking back over past 21 days, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. Over the past week, Chainlink saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 5.09%. Its trading turnover percentage is higher than about 72.55% of the coins we’re tracking, so it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
The number of wallets holding Chainlink went from 45,504 to 49,189 in the past week, marking a change of 8.10%. And in regards to cumulative transactions logged on the blockchain, they went from 0 to 398,823, which amounts to a change of Inf%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Chainlink is thus at Inf% which, relatively speaking, is ahead of 99.92% 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
At the moment, Chainlink has 30 repositories open to the public on GitHub, with the oldest one now being 2.83 years young. Its most recent public update 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 788 watchers, which is pretty good, relatively speaking; specifically, that’s more than 67 % of the top 100 coins we’re looking at. The coin has 25 issues reported across its public repositories. 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 76% of similar coins in our index.
Chainlink News and Commentary
We found 3 links over the past week about Chainlink that we thought were especially worth sharing. If possible we included a brief excerpt from the article — be sure to click through for the entire piece.
LinkForest.io | Chainlink Reviewed Node Operator – LinkForest
Set Up a ChainLink Test Node with AWS EC2 , Fiews , an
Neblio and Chainlink to Bring Decentralized Oracles to the Neblio Blo
Where to Buy
You can trade Chainlink, listed under the symbol LINK, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
