Chainlink Price Update
Chainlink’s current price, at the time of this writing, is $3.888 USD, up by approximately 4.68% from the day prior. The up day for Chainlink yesterday was a reversal from the day before it, which puts its price at 8.12% above its 20 day moving average. Over the past two weeks, price has been in an up trend. To help contextualize yesterday’s price move, we can observe that price has rallied 7 of the past 10 days. And in terms of volume, yesterday’s price move ocurred on volume that was 67.07% 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 $3.329967 and $3.861833. As we are closer to the top of that range, rangebound traders may wish to consider exploring selling opportunities.
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 $1,360 million.
Update on Transactions and Holders
Over the past 24 hours, 5,736 transfers have been added to the blockchain recording transactions amongst holders of Chainlink. As for the number of holders, yesterday saw the number of wallets holding Chainlink rise by 662. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 2,127 wallets making a transaction yesterday, while 34,921 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.06.
How are the Strong Holders of Chainlink Faring?
And in regards to wealth distribution, note that the top 1,000 Chainlink wallets hold over 260.8% of the token’s total 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 2.46% 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 0.15%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.16%.
What’s Going on Social Media?
If you are interested in following Chainlink on social media, Twitter, where it has 50,663 following it, may be a good place to start. Here is the Twitter page for Chainlink.
Article by SixJupiter
