May 8, 2020: Chainlink (LINK): Down 0.16%

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Chainlink: What’s the Latest Regarding its Price?

Chainlink’s current price, at the time of this writing, is $3.758 USD, down by approximately 0.16% from the day prior. The down day for Chainlink yesterday was a reversal from the day before it, which puts its price at 1.59% 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 2 of the previous 5 days. And in terms of volume, yesterday’s price move ocurred on volume that was 56.49% less than its 7 day average volume.

In terms of an expected trading range, the Bollinger bands on Chainlink suggest price may bounce between $3.547761 and $3.850939 based on its momentum and volatility over the past 14 days. 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 $1,315 million US dollars.

Daily Engagement Metrics Update

Over the past 24 hours, 5,125 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 increase by 491. To understand loyalty or repeat usage amongst holders of Chainlink, we can note that there were 2,132 wallets making a transaction yesterday, while 37,739 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.

Observing Chainlink’s Richest Wallets

And in regards to wealth distribution, note that the top 1,000 Chainlink wallets hold over 260.85% of the token’s total money supply. Incidentally, this value exceeds 100% because many owners are not yet able to sell (due to contractual provisions), and our supply metric only observes liquid supply. 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 3.14% 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 0.05% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.68%.

What’s Going on Social Media?

If you are interested in following Chainlink on social media, Facebook, where it has NA following it, may be a good place to start.

Article by SixJupiter

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