Price Action
In the week prior, the price for ChainLink went up by 22.02%. It is below its 20 day moving average by 1.23%, so it’s fairly close. ChainLink’s bullish momentum, determined by 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 80% 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 0.8515308 and $1.375889.
Where to trade Chainlink (symbol: LINK): Gate, Yobit, Binance, DDEX
Volume Update
Over the past week, Chainlink saw its daily volume range between 2,954,975 and 47,179,420 units of its own currency. In the three weeks prior, the trend in volume does not have a clear direction, while the price trend is clearly down. The past 7 days saw Chainlink’s trading turnover — meaning the percentage of its available supply that was traded — come in at 6.29%. This turnover rate is higher than approximately 71.13% of the cryptocurrencies we monitor, which means it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
Over the past week, ChainLink saw its holders go from 30,421 to 30,978, an increase of 1.83%. As for overall transactions, they increased from 231,828 to 244,799 — an increase of 5.60%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of ChainLink is thus at 7.43% which, relatively speaking, is ahead of 82.86% of the cryptocurrencies we’re tracking. This could indicate 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 2.73 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 public repos now have 669 which is pretty good, relatively speaking; specifically, that’s more than 63 % of the top 100 coins we’re looking at. The coin has 16 total outstanding issues across all 30 of its public repositories on GitHub. Relative 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 82% of similar coins we’re tracking.
Chainlink News and Commentary
We found 2 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.
Chainlink ETH node failover proxy – Fiews
Harmony to Partner with Chainlink for Off-Chain Conn
Where to Buy
You can trade Chainlink, listed under the symbol LINK, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
