Link: 10/26 Status Update

A daily look at the trading status of the Chainlink token

News

Finally, some actual news. Sergey will be presenting at Devcon3, a huge conference for Ethereum developers. His 20-minute presentation will take place at the main hall on November 3rd and will discuss Secure Decentralized Oracles. Hopefully, he will mention the Chainlink token and many Ethereum developers become intrigued enough that they look it up and consider Chainlink’s utility for their own projects. That would take time. Other than that and Sergey doing lots of networking, nothing should be expected of his talk at this developer’s conference. No announcements, no partnerships. Please don’t be too hyped about it.

It’s also worth mentioning that Chainlink advisor Andrew Miller will be presenting later on the same day.

Link and the top 100

The price is $0.2341, a new low from yesterday.

As mentioned yesterday, interest in the token is decreasing. Link is now the 67th coin in market capitalization. Yesterday’s volume was $2.16M, the lowest since the token joined Binance. Only the first couple days in Etherdelta have seen lower volume. Link is the 45th coin in volume in the top 100… and the 23rd worst performing in price.

Price action

The daily Link/BTC pair shows a price decrease and fell below the lows of the last few days. The price in dollars isn’t changing that much, but Bitcoin is close to $6,000 again. As mentioned, the next couple weeks will be rocky.

TA still says that the evolution of the MACD is a positive sign and Link is getting ready to reverse the trend, but TA is about probabilities, not certainties, and the increasing lack of interest isn’t a good sign for short-term traders.

Whales and Wallets

The top 50 wallets remain unchanged. The only difference is that a million tokens leave Binance every day for people’s wallets, much less than last week. Also, the number of new wallets is decreasing. We’re at 12,272, 19.33% more than when I started measuring on the 15th. Today’s change represents a 0.91% daily growth, far from the 1.5% we’ve been seeing.

The top 50 hold 74.97% of the tokens. The top 100 hold 78%.

Exchanges

Yesterday, Binance had 92.56% of the volume.

There’s rumors that Link will be listed on 2 new exchanges. Coss.io and KuCoin. Both are very small and wouldn’t bring additional volume. They’d probably be useful to arbitrage traders, though.

That’s all for today. Given the lack of changes, I’ll probably move this status report to a weekly format starting next week and use the extra time to write similar reports on other tokens. Suggestions are welcome.

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