How Did Chainlink’s Price Fare Yesterday?
Chainlink is up by approximately 1.03% from the previous day, with its price currently hovering around $3.727 USD. The up day for Chainlink yesterday was a reversal from the day before it, which puts its price at 0.94% above its 20 day moving average. Over the past two weeks, price has been in a unclear trend. To help contextualize yesterday’s price move, we can observe that price has rallied 18 of the past 30 days. And in terms of volume, yesterday’s price move ocurred on volume that was 70.36% 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 $3.564411 and $3.819889, based on how price has behaved in the two weeks prior. Price’s current proximity to the top of the range may make selling an attractive opportunity to traders interested in trading the range.
As for Chainlink’s market cap, it is currently at about $1,299M US dollars.
Straight Off the Chain
3,889 transactions amongst holders of Chainlink occurred yesterday. As for the number of holders, yesterday saw the number of wallets holding Chainlink rise by 485. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 1,563 wallets making a transaction yesterday, while 36,870 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.04.
How are the Strong Holders of Chainlink Faring?
In terms of wealth concentration, the richest 1,000 wallets own 260.83% of the coin’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. The percent of the currency that is owned by wallets that are both belonging to exchanges and in the top 1,000 richest wallets of the token comes out to 2.63% of the currency’s money supply. Exchange ownership grew by 0.09% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.06% over that time period.
What’s Going on Social Media?
Traders interested in following Chainlink has the biggest presence on Twitter, where it has 52,295 users engaged. You can follow Chainlink on Twitter here.
Article by SixJupiter
