Chainlink ($LINK) is riding the wave of bullish market sentiment, showcasing remarkable resilience and profitability. 56% of $LINK holders are now profitable, aligning with trends in other leading cryptocurrencies. This marks a shift from the bear market’s grip, where 70% of holders faced losses for over a year. Consequently, the current landscape paints a picture of recovery and optimism for Chainlink enthusiasts.
Transaction and Whale Activity
Per recent IntoTheBlock data, the Chainlink network is exhibiting robust transactional health, recording a 436% increase in daily transactions from monthly lows. This uptick is not just in numbers; the transaction volume echoes this positive trajectory. Recently, Chainlink’s daily on-chain transaction volume soared to $515 million, a figure last seen in July 2022.
Moreover, whale activity further bolsters Chainlink’s bullish narrative. Large holders, controlling over 1% of the supply, have accumulated over 52 million LINK in the past mo
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