Token

FOMO

Chainlink

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlinks-link-token-outperforms-market-as-dormant-wallets-activate/" data-wpel-link="internal">Chainlink’s LINK Token Outperforms Market as Dormant Wallets Activate</a> 
<a href="https://en.coin-turk.com/chainlink-faces-correction-according-to-analyst-ali-martinez/" data-wpel-link="internal">Chainlink</a>, one of the leading projects in Blockchain, seems to be outperforming the rest of the market with its native token LINK. According to on-chain analysis provider Santiment, LINK is on the rise, and this could be due to dormant wallets becoming active again. 
<h2 style="text-align: justify" id="chainlink-wallet-movements-and-link-price">Chainlink Wallet Movements and LINK Price</h2> 
Data shared by Blockchain analysis firm Santiment on February 2nd indicates that LINK has outperformed other altcoins and took the spotlight; 
<blockquote> 
 Some wallets that were previously inactive have created the highest Age Consumed spike. 
</blockquote> 
This calculation presented by Santiment is performed by multiplying the number of days LINKs in wallets remained inactive. Santiment’s statement was as follows: 
<blockquote> 
 This flow of LINK returning to the network’s circulation has likely contributed to the price increase. 
</blockquote> 
Santiment researchers also revealed that there were exits from small-scale wallets in the Chainlink network and added: 
<blockquote> 
 This is usually a sign of FUD that could contribute to further price increases. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-310288" src="https://coin-turk.com/wp-content/uploads/2024/02/link-18-13.png" alt="" width="603" height="396"> 
<h2 style="text-align: justify" id="what-is-chainlink-s-current-price">What is Chainlink’s Current Price?</h2> 
The price breakout occurred after the opening of Asian markets on Friday morning. Following the start of the session, LINK rose to its intra-day and 22-month high of $18.13. LINK surpassed $18 for the first time since April 2022. The next major resistance level for the price seems to be at $28, seen in January 2022. 
According to data provided by 21milyon.com, this significant price movement has resulted in a 30% profitability for Chainlink over the past seven days. Moreover, LINK’s market value has risen above $10 billion, overtaking Tron (TRX) and settling in the twelfth position. 
The price movement in Chainlink and the resulting FOMO are largely associated with the momentum created by real-world asset tokenization. On February 2nd, the network’s X account reminded its followers that it is the industry leader in this sector. 
<blockquote> 
 Traditional <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> institutions need data, computation, and cross-chain capabilities to adopt blockchains and tokenized RWAs on a large scale. Only the Chainlink platform provides all three. 
</blockquote> 
On February 1st, trader and analyst “Satoshi Flipper” commented on the first cross-chain trade protocol called Xswap, supported by Chainlink’s CCIP. The crypto provider had launched the Cross-Chain Interoperability Protocol (CCIP) in July to facilitate seamless cross-chain transactions. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlinks-link-token-outperforms-market-as-dormant-wallets-activate/" data-wpel-link="internal">Chainlink’s LINK Token Outperforms Market as Dormant Wallets Activate</a></h5>

Chainlink’s LINK Token Outperforms Market as Dormant Wallets Activate

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