Chainlink (LINK) has experienced a nearly 30% increase in value over the past month, driven by a growing bullish sentiment. The surge in price is backed by on-chain metrics indicating heightened network activity, which coincided with the Chainlink Staking v0.2 going live.
The upgrade featured an expanded pool size of 45 million.
Chainlink’s On-Chain Metrics Spark Optimism
On November 28th, LINK experienced its largest spike in whale transactions for the year.
Citing data from IntoTheBlock, prominent crypto analyst Ali Martinez revealed that LINK recorded more than 2,600 transactions surpassing $100,000 each.
Historical data from the last six months reveals a pattern where substantial spikes in whale transactions precede a rise in LINK’s price, with a local peak occurring within 2 to 3 days of increased whale activity. This pattern was observed on July 20, October 23, and November 9.
Although the number of whale transactions exceeding $100,000 was comparatively lower in instances pr
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