How Did Chainlink’s Price Fare Yesterday?
Chainlink is up by approximately 12.94% from the previous day, with its price currently hovering around $2.539 USD. Chainlink is currently in a down, but it should be noted that this is now the the 4th straight day that price has been up. Moreover, Chainlink is now 23.53% below its 20 day moving average. To help contextualize yesterday’s price move, we can observe that price has rallied 5 of the past 10 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 70.78% less than its 7 day average volume.
Traders looking for a range to trade within may wish to note that the Bollinger bands (a price indicator based on recent momentum and volatility) for Chainlink imply the currency may oscillate between $1.325929 and $5.314671, based on how price has behaved in the two weeks prior. Price’s current proximity to the bottom of the range may make buying an attractive opportunity to traders interested in trading the range.
The market capitalization of Chainlink, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $868 million.
Update on Transactions and Holders
NA transactions amongst holders of Chainlink occurred yesterday. In terms of estimating the number of holders, over the past day the total number of wallets holding Chainlink has gone NA by approximately NA. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.06, with 2,298 wallets making a transfer this past day and 36,442 wallets having made a transfer in the past month.
Observing Chainlink’s Richest Wallets
In terms of wealth concentration, the richest 1,000 wallets own 261.82% of the coin’s total money supply. Incidentally, this value exceeds 100% because many owners are not yet able to sell (due to contractual provisions), and our supply metric only observes liquid supply. 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 2.66% of the currency’s total money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by 0.5%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 0.1%.
What’s Going on Social Media?
In terms of social media presence, Chainlink saw its Twitter followers and Reddit subscribers go up by 289 and 8 over the past 24 hours. Traders interested in following Chainlink has the biggest presence on Twitter, where it has 46,527 users engaged. You can follow Chainlink on Twitter here.
Article by SixJupiter
