Price Action
Since last week, ChainLink’s price went down by -7.15%. It is above its 20 day moving average by 20.23%, so it’s a bit of a ways off. ChainLink’s bullish momentum, determined by its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. In terms of volatility, ChainLink exhibits greater price volatility than approximately 96% 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 0.8328625 and $2.211338.
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 5,240,409 and 95,743,337. In the three weeks prior, the trend in volume is not clear, though price is marching upwards. The past 7 days saw Chainlink’s trading turnover — meaning the percentage of its available supply that was traded — come in at 11.16%. Its trading turnover percentage is higher than about 81% of the coins we’re tracking, so it’s far above average and thus a good coin for those interested in active trading or being able to get out of the market if they need to.
Engagement Update
ChainLink saw the number of wallets holding its coin go from 32,314 to 30,590 over the past week — a change of -5.34%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 261,365 to 282,157, which translates to growth of 7.96% for the week. ChainLink’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 2.62% which puts it ahead of 63.64% of the coins in our index. This could indicate that the coin’s engagement is growing at an above average rate.
Technology Development Status
At the moment, Chainlink has 30 repositories open to the public on GitHub, with the oldest one now being 2.77 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 repos that are visible to the public collectively have 701 watchers — specifically, that’s more than 61 % of the top 100 coins we’re looking at. The coin has 19 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 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
The top 2 themes being discussed about Chainlink in the past week are listed below. If available, we added an excerpt from the article to help give a taste of what it is about.
Kaiko becomes official node operator and data provider for Chainlink’s network of decent
This Week in Cryptocurrency: May 10th, 2019 – AMCgroup
Where to Buy
You can trade Chainlink, listed under the symbol LINK, through the following exchanges: Gate, Yobit, Binance, DDEX.
Article by SixJupiter
