Santiment, a blockchain analytics firm, shows that Chainlink’s development activity has been rapid since late May 2023. A metric that tracks the continuous enhancement of Chainlink, a blockchain-agnostic platform that links decentralized apps (dapps) to trustworthy external data, shows that activity rose from 1,579 on May 31 to 1,707 by July 27.
Development Activity, LINK Prices Rising
Accompanying the notable uptick in activity was a strong resurgence in the price of LINK, Chainlink’s native currency. Trackers show that after dropping to $4.77 in June 2023, LINK prices soared by 77%, reaching as high as $8.4 in mid-July. As of August 7, LINK is up double-digits, adding 44% from June 2023 lows.
Factoring in rapid on-chain development activity during this period, the spike indicates how developer activity can influence prices or even fuel demand in an uptrend. Like public chains, how developers engage and contribute to improving a dapp is critical for security and general platfor
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