How Did Chainlink’s Price Fare Yesterday?
Chainlink is down by approximately 17.64% from the previous day, with its price currently hovering around $1.714 USD. This marked the the 3rd consecutive day Chainlink has been down; it is still in a downtrend, and is currently 53.34% below its 20 day moving average; staying above this level may be critical to sustain short-term momentum. To help contextualize yesterday’s price move, we can observe that price has rallied 5 of the past 14 days. And in terms of volume, yesterday’s price move ocurred on volume that was 42.59% less than its 7 day average volume.
As for Chainlink’s expected trading range — as forecasted by the Bollinger bands indicator, which determines a range based on momentum and volatility over the past two weeks — is between $1.363182 and $5.984318. Given its boundaries, rangebound traders may find it compelling to entertain buying, as we are nearer to the bottom of the range.
The currency’s market cap currently stands at $601 million US dollars.
Daily Engagement Metrics Update
Over the past 24 hours, NA transfers have been added to the blockchain recording transactions amongst holders of Chainlink. Regarding a tally of holders, Yesterday saw Chainlink’s wallet count NA by NA. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 1,844 wallets making a transaction yesterday, while 36,011 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.05.
Observing Chainlink’s Richest Wallets
As for wealth distribution, the richest 1,000 wallets currently own 261.92% of the money supply. To further clarify, our supply metric focuses only on supply that is publicly available while many large holders may have tokens they are not able to sell yet — which is why this value can exceed 100%. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 2.81% of the currency’s total money supply. Exchange ownership grew by 0.2% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by 0.68% over that time period.
The Latest on Chainlink and Social Media
In terms of social media presence, Chainlink saw its Twitter followers and Reddit subscribers go up by 71 and 24 over the past 24 hours. Traders interested in following Chainlink has the biggest presence on Twitter, where it has 46,116 users engaged. You can follow Chainlink on Twitter here.
Article by SixJupiter
