Chainlink’s native token, LINK, has rebounded by nearly 75% after bottoming out at $5.29 in May. The price of the token momentarily rose to a high of $9.20, which had not been reached since the middle of August. This is said to have been caused by the intense activity of LINK wallets over the past month.
Here’s What Driving Chainlink’s Price
According to Santiment data, the percentage of Chainlink supply held by addresses with a balance between 1,000 and 1 million LINK increased to approximately 23% in November from 18.2% in May. This suggests that the main drivers of the LINK price recovery may have been wealthy investors.
#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
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We współpracy z: https://coingape.com/chainlink-outperforming-bitcoin-ethereum/
