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Chainlink Bullish Signal: LINK Address Activity Returns To 2021 Levels

Data shows Chainlink address activity has returned to 2021 levels recently, a sign that could turn out to be bullish for the asset’s value.

According to data from the on-chain analytics firm Santiment, this increase in LINK activity first started around two months ago. The relevant indicator here is the “daily active addresses,” which tells us the total number of addresses that were involved in a transaction on any given day.

When the value of this indicator is high, it means a large number of daily users are interacting in some way on the blockchain right now. Such a trend shows the market is active currently.

On the other hand, low values of the metric imply not many unique users are showing trading activity at the moment. This kind of trend can be a sign that the general interest around the crypto is low at the moment.

(By Hououin Kyouma)

Chainlink Chainlink $23.43
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