March 25, 2020: Chainlink (LINK): Up 0.09%; 3rd Straight Up Day


Chainlink Price Update

Chainlink’s current price, at the time of this writing, is $2.322 USD, up by approximately 0.09% from the day prior. Chainlink enters the day 15.95% below its 20 day moving average, but is experiencing its the 3rd day in a row up. To help contextualize yesterday’s price move, we can observe that price has rallied 8 of the past 10 days. And in terms of volume, yesterday’s price move ocurred on volume that was 76.06% 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 $2.380666 and $3.144634, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain buying, as we are nearer to the bottom of the range.

As for Chainlink’s market cap, it is currently at about $814M US dollars.

Update on Transactions and Holders

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 further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.03, with 1,298 wallets making a transfer this past day and 37,198 wallets having made a transfer in the past month.

Just How Rich are Chainlink’s Richest Holders?

And in regards to wealth distribution, note that the top 1,000 Chainlink wallets hold over 261.77% of the token’s total money supply. Ownership exceeding 100% is due to the fact that our supply metric is focused just on available supply, and some large owners of Chainlink have ownership they cannot sell at this time — but may be able to in the future. 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 4% 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 -0.36%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 1.22%.

Chainlink’s Social Media Presence

In terms of social media presence, Chainlink saw its Twitter followers and Reddit subscribers go up by 74 and 13 over the past 24 hours. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Here is the Twitter page for Chainlink.

Article by SixJupiter

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