Chainlink Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Chainlink's (CRYPTO: LINK) price has decreased by 3.87% over the past 24 hours to $14.95, following a weekly downward trend of -3.0%. The volatility of Chainlink's price is depicted through Bollinger Bands in the provided chart. Trading volume has decreased by 13.0% over the past week, while the circulating supply has decreased by 0.84% to 568.10 million, approximately 56.81% of the maximum supply. Chainlink's current market cap is $8.43 billion, ranking it 14th.
January 22, 2024 | 7:03 pm
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NEGATIVE IMPACT
Chainlink (LINK) has experienced a 3.87% price drop in the last 24 hours and a 3.0% decrease over the past week, with a decrease in trading volume and circulating supply.
The price of Chainlink has seen a significant drop both over the past 24 hours and the past week, which is typically a bearish indicator. The decrease in trading volume suggests lower investor interest, and the reduction in circulating supply could indicate a tightening of available coins, which might normally lead to a price increase, but the current trend and market sentiment appear to be negative. The market cap ranking remains strong, which may provide some support to the price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100