LINK is the only cryptocurrency in the top 20 with positive change.
At the moment, LINK is the only cryptocurrency in the top 20 that is showing a positive change.
The volatile markets may be giving some investors pause, but not Chainlink (LINK). The digital currency broke above $9.20 for the first time since August this year, recording a three-month high. This is a positive sign for the currency, which has been on a steady upward trend since early this year.
The latest price appreciation was triggered by massive activity stirred by LINK wallets over the past five weeks. This activity is a positive sign for the future of LINK, and indicates that more and more people are beginning to see the value in this cryptocurrency.
- The data from crypto-analytic platform Santiment shows that traders are "longing" LINK "aggressively." This suggests that they are confident in the future of the asset and are willing to hold it for the long term.
#Chainlink spiked all the way above $9.20 for the first time since August 13th, a ~3 month high despite very volatile markets. This rise has been supported by the largest amount of active $LINK addresses in 5 weeks, and traders are longing aggressively. https://t.co/ZxsZnveURm pic.twitter.com/lia6XAgSar
— Santiment (@santimentfeed) November 8, 2022
- It's clear that big investors are still very bullish on Chainlink, even though the market has been in a bearish trend this year. This accumulation of LINK tokens by whale addresses indicates that these investors believe Chainlink is still a strong project with a lot of potential. This could mean that we could see a price surge in the future as these investors start to sell their tokens.
- Even though some investors sold their LINK tokens last month, there are still plenty of holders who are accumulationg LINK. This managed to lessen the sell-off blow.
- The oracle service provider's recent announcement of 14 integrations across four chains - Arbitrum, BNBChain, Ethereum, and Polygon - could have aided the ongoing pump. The move signals the company's commitment to providing a comprehensive and reliable service to its clients. With these new integrations, the oracle service provider is positioned to become the go-to provider for all things blockchain.
- I see the Chainlink and Seedify partnership as a major boon for the NFT and metaverse communities. Seedify Fund's experience and expertise will help new and upcoming projects get off the ground, and Chainlink's technology will help to power these new ventures. This is a win-win for both parties involved, and I'm excited to see what comes of it.
- As the leading provider of secure, reliable data connectivity for the blockchain ecosystem, Chainlink is well-positioned to transform into the AWS of the Web 3.0 space. By launching staking in December, Chainlink will enable users to earn rewards for securely connecting smart contracts to off-chain data sources.
- I'm excited to see what the future holds for Web3 and the new economic model that Sergey Nazarov unveiled at SmartCon 2022. I believe that this platform has the potential to revolutionize the way we interact with the internet and could provide a more secure, efficient, and decentralized way of doing business online.
- The number of projects integrating Chainlink's services has more than doubled in the last six months, from 1,000 to 1,500. The number of Chainlink oracles has also increased by 30%, to nearly 1,000. This rapid growth is a testament to the strength of the Chainlink platform and its ability to provide reliable data and information to projects across a wide range of industries.
There are a few reasons behind the recent surge in Chainlink's price. Firstly, the increasing demand for Ethereum-based smart contracts has led to a greater demand for LINK, as it is needed to connect these contracts to external data sources.
