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LINK price continues to rise without stopping. Weekly gains reached 60% and the increase in the last 24 hours was 10%. The question of where the Chainlink price rally will end has already become a topic of curiosity. As of the writing time, LINK is trading at $11.37 with a 9.66% increase.
This massive price increase moved Chainlink (LINK) to the 12th place in market capitalization rankings. After the recent price increase, Chainlink’s market value increased by more than $2 billion.
Chainlink Coin Review
Cryptocurrency analyst Felix recently made a post on X. In addition to sharing an analysis about the LINK price, the analyst pointed out that if the resistance level of $9.6, which has been in existence for 500 days, is broken, larger price movements can occur.
The analyst also indicated that a large accumulation made by investors in recent times may have contributed to the price increase. Approximately $9.92 million worth of LINK was sent from exchanges to wallets when the price level was at $7.26. The 50% increase in the LINK price continues to be reflected in the charts following this significant movement.
LINK Coin Future
According to Felix, the cryptocurrency ecosystem is growing. According to the analyst, in the growing ecosystem, the LINK price can only show an upward trend. There has been an increase in both active addresses and new addresses in the Chainlink network. According to data provided by IntoTheBlock, active addresses in the Chainlink network became more popular and showed a steady increase after the price increase.
There was a 112% increase in the number of active addresses in the network in the last 7 days. Another noteworthy point was the 190% increase in the number of new addresses. On October 23, more than 12,000 transactions took place on Chainlink. The transactions indicated the peak of the past 7 days. This can be interpreted as a reflection of the increase in transaction activity.
In addition, internal development activities are ongoing. The release of Chainlink Staking v0.2 is expected before the end of the year. Chainlink investors seem to have a potential for entering the bull season more optimistically after these developments. All of these developments can also have a positive impact on Chainlink investors’ accumulation activities.
