Link: 10/27 Status Update

A daily look at the trading status of the Chainlink token

News

There’s a excellent new site for everything Chainlink. It’s Chainlink Nodes and I strongly recommend it. It includes lots of technical documentation about Link as well as a blog with news updates.

KuCoin has confirmed that the Chainlink team submitted a request to have the token listed in their exchange. While Kucoin and Coss are low-volume exchanges, it’s good to know that the team is listening to the community’s concerns and acting on them. Hopefully, access to bigger exchanges will follow.

We also seem to have an unannounced new exchange. According to Coinmarketcap, Link is now listed at Idex. Don’t worry, I had to look it up too. It seems to be a new decentralized exchange from Italy. Here’s their FAQ.

Yesterday we saw a bit of drama when Confido announced that they’ll be using Oraclize instead of Chainlink for their alpha and apocalyptic 4chan threads ensued. Confido soon explained that this is just a temporary solution until Chainlink is up and running and that they consider it a good project.

As you might know, 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. The conference will be streamed.

Link and the top 100

The price is $0.2279, even lower than yesterday. Many alts are down, with all the pre-Seg2X turmoil, and Chainlink is the 30th worst performing coin in the top 100. It’s also the 68th coin in market cap.

Trading volume made a new low, $1.68M, over 20% less than yesterday. It’s the lowest volume ever except from the very first day at Etherdelta, when most people didn’t even know Link was listed. It’s become the 53rd coin in volume.

Price action

The market seems to have decided that Link isn’t going to do much of anything in the near term and is leaving it alone. On the other side, there’s no rush to sell, either. The price might dip lower to the $0.20 support or might just swing between 20 and 27 cents for the time being. Breaking out either way would be the start of a powerful price move.

Perhaps I shouldn’t bother trying to explain price action since Sick TA has already done it in a most, er, captivating way.

Chainlink Technical Analysis by Sick TA

Whales, Wallets and Exchanges

The top 50 wallets remain unchanged. The Binance wallet lost another 1.8M tokens, much more than the previous day’s 1.3M. People keep on buying that cheap Link and holding.

The top 50 hold 74.80% of the tokens. The top 100 hold 77.83%. Nothing is happening except for the stream of small withdrawals from Binance.

Binance had 87.8% of the volume. A bit down, but this is mostly because the decrease in volume affects bigger exchanges more than niche ones like Etherdelta and Mercatox.

New wallets, you ask? An extra 0.96% compared to the 10/15 baseline. We have 12,369 now.

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