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Price Action

Over the past week, Chainlink saw its price go down by -0.6%. It is above its 20 day moving average by 2.41%, so it’s fairly close. Chainlink’s bullish momentum, determined by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Regarding volatility, Chainlink is more volatile than roughly 40% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. Based on volatility over the past three weeks, we can expect Chainlink to experience a price range in US dollars between 2.267178 and $2.915722.

Where to trade Chainlink (symbol: LINK): Gate, Yobit, Stex, Binance, DDEX, ETHfinex

Volume Update

In the week prior, the daily volume for Chainlink has ranged between 931,861 and 9,899,118 currency units. Looking back over past 21 days, the trend in volume is not clear, though price is marching upwards. Chainlink experienced a turnover rate of about 1.37% over the past week, which means that is the percent of its available money supply that is traded daily. Its trading turnover percentage is higher than about 62.11% of the coins we’re tracking, so it’s above average and thus will have enough liquidity for many investors/traders.

Engagement Update

Over the past week, Chainlink saw its holders go from 71,896 to 73,566, an increase of 2.32%. And in regards to cumulative transactions logged on the blockchain, they went from 1,024,303 to 1,073,306, which amounts to a change of 4.78%. Chainlink’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 7.10% which puts it ahead of 94.03% of the coins in our index. One interpretation of this may be that the coin may be on track to getting and sustaining actual usage.

Technology Development Status

Chainlink currently has 30 public repos on GitHub, with the oldest one clocking in at 3.13 years young. The last recorded update to its public repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Chainlink’s repos that are visible to the public collectively have 892 watchers — specifically, that’s more than 68 % of the top 100 coins we’re looking at. The coin has 29 outstanding issues in the backlog awaiting to be addressed by the core development team. Relative to the number of watchers it has, though, its open issues count seems to be in good shape. To elaborate: the ratio of open issues to developers who are watching Chainlink’s GitHub repos is more favorable than 79% of similar coins in our index.

Chainlink News and Commentary

Over the past week, we found 2 links about Chainlink that we found especially interesting. If possible we included a brief excerpt from the article — be sure to click through for the entire piece.

Tokenview & Chainlink Bring Market Forecast Data to Smart C

The 4th Industrial Revolution and Chainlinked Smart C

Article by SixJupiter


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