May 10, 2020: Chainlink (LINK): Down 6.46%

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Chainlink Price Update

Chainlink’s current price, at the time of this writing, is $3.752 USD, down by approximately 6.46% from the day prior. The down day for Chainlink yesterday was a reversal from the day before it, which puts its price at 0.39% above its 20 day moving average. Over the past two weeks, price has been in a unclear trend. Another data point we may find worthy of observation is that price for Chainlink has increased 17 of the previous 30 days. Another data point we may find worthy of observation is that price for Chainlink has increased 17 of the previous 30 days.

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 $3.525213 and $3.949987, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain shorting, as we are nearer to the top of the range.

The currency’s market cap currently stands at $1,322 million US dollars.

Daily Engagement Metrics Update

Over the past 24 hours, 9,038 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 826. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 2,590 wallets making a transaction yesterday, while 38,230 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.07.

How are the Strong Holders of Chainlink Faring?

As for wealth distribution, the richest 1,000 wallets currently own 260.75% of the money supply. This number is greater than 100% because many of the token holders are not able to sell them yet, and thus their numbers are not included in the supply yet, though they can be regarded as future sellers when they are able to sell. 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 3.28% 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 -0.13%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 0.8%.

The Latest on Chainlink and Social Media

Traders interested in following Chainlink has the biggest presence on Twitter, where it has 53,722 users engaged. Use this link to follow Chainlink on Twitter.

Article by SixJupiter

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