Chainlink Price Update
Chainlink is down by approximately 0.83% from the previous day, with its price currently hovering around $2.261 USD. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in a down trend, and is currently 27.74% 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 4 of the past 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 87.03% 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 $1.485561 and $4.772239, 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 currency’s market cap currently stands at $791 million US dollars.
Daily Engagement Metrics Update
Yesterday saw NA transfers amongst holders of Chainlink. Regarding a tally of holders, Yesterday saw Chainlink’s wallet count NA by NA. In terms of recurring usage, we can note that 36,975 wallets have sent or received coins in the past month, while 1,169 have in the past day.
Just How Rich are Chainlink’s Richest Holders?
As for wealth distribution, the richest 1,000 wallets currently own 261.88% 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%. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 4.04% of the currency’s money supply. Exchange ownership grew by 1.41% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by 0.39% over that time period.
What’s Going on Social Media?
Social media growth, in terms of Twitter followers and Reddit subscribers, came in at up 57 and 12 over the past day for Chainlink. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow Chainlink on Twitter.
Article by SixJupiter
