May 5, 2020: Chainlink (LINK): Down 0.59%

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Chainlink Price Update

At the time of this writing, Chainlink has a price of $3.735 USD, which puts it down by approximately 0.59% from yesterday. Yesterday’s down day is a reversal of the day before it; in terms of trend, though, note that the current price is now 1.43% above its 20 day moving average, and is currently in a unclear trend over the past 14 days. Another data point we may find worthy of observation is that price for Chainlink has increased 18 of the previous 30 days. Another data point we may find worthy of observation is that price for Chainlink has increased 18 of the previous 30 days.

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 $3.553577 and $3.811123. Price’s current proximity to the top of the range may make shorting an attractive opportunity to traders interested in trading the range.

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 $1,310 million.

Straight Off the Chain

4,977 transactions amongst holders of Chainlink occurred yesterday. As for the number of holders, yesterday saw the number of wallets holding Chainlink increase by 606. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.04, with 1,551 wallets making a transfer this past day and 36,370 wallets having made a transfer in the past month.

Observing Chainlink’s Richest Wallets

In terms of wealth concentration, the richest 1,000 wallets own 260.86% of the coin’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%. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 2.66% 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 -0.08% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.14%.

What’s Going on Social Media?

If you are interested in following Chainlink on social media, Twitter, where it has 52,295 following it, may be a good place to start. Use this link to follow Chainlink on Twitter.

Article by SixJupiter

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