May 11, 2020: Chainlink (LINK): Down 2.02%; Price Crosses 20 Day Average; 2nd Consecutive Down Day

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Chainlink: What’s the Latest Regarding its Price?

Chainlink’s current price, at the time of this writing, is $3.689 USD, down by approximately 2.02% from the day prior. This marked the the 2nd day in a row Chainlink has been down; it is still in a unclear trend, and is currently 1.61% below its 20 day moving average; staying above this level may be critical to sustain short-term momentum. From another vantage point, note that price has gone up 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 68.12% less than its 7 day average volume.

In terms of an expected trading range, the Bollinger bands on Chainlink suggest price may bounce between $3.542806 and $3.955794 based on its momentum and volatility over the past 14 days. Given its boundaries, rangebound traders may find it compelling to entertain buying, as we are nearer to the bottom of the range.

The currency’s market cap currently stands at $1,292 million US dollars.

Update on Transactions and Holders

Over the past 24 hours, 5,760 transfers have been added to the blockchain recording transactions amongst holders of Chainlink. In terms of estimating the number of holders, over the past day the total number of wallets holding Chainlink has gone up by approximately 676. In terms of recurring usage, we can note that 38,367 wallets have sent or received coins in the past month, while 2,261 have in the past day.

How are the Strong Holders of Chainlink Faring?

And in regards to wealth distribution, note that the top 1,000 Chainlink wallets hold over 260.73% 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. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 3.1% of the currency’s money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by -0.21% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.43%.

The Latest on Chainlink and Social Media

In terms of social media presence, Chainlink saw its Twitter followers and Reddit subscribers go up by 426 and 66 over the past 24 hours. 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

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