Token

FOMO

Chainlink

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/chainlinks-link-token-surges-following-dormant-wallet-activity" rel="noopener noreferrer nofollow">Chainlink’s LINK Token Surges Following Dormant Wallet Activity</a><br></p>
<p style="text-align: justify">A recent surge in Chainlink’s cryptocurrency, LINK, is grabbing attention as it outpaces other digital assets in the market. Analysis from Santiment, an on-chain analysis provider, suggests the uptick may be linked to previously inactive wallets resuming activity within the network.</p>
<h2 id="renewed-activity-fuels-market-momentum">Renewed Activity Fuels Market Momentum</h2>
<p style="text-align: justify">Santiment’s data from February 2nd highlighted a significant spike in the metric known as Age Consumed, reflecting LINK moving after a period of dormancy. This uptick in circulation is thought to be a contributing factor to LINK’s price rise. Additionally, Santiment has noted that smaller wallets within the Chainlink ecosystem have been offloading their holdings, a sign often interpreted as fear, uncertainty, and doubt (FUD), which paradoxically could lead to further price increases.</p>
<h2 id="link-price-hits-22-month-high">LINK Price Hits 22-Month High</h2>
<p style="text-align: justify">The LINK token experienced a notable price increase, reaching an intra-day peak of $18.13, the highest since April of the previous year, following market openings in Asia. Current trends suggest that $28 could be the next significant resistance point for the cryptocurrency. This rally has pushed Chainlink’s profitability to 30% over a seven-day period and pushed the network’s market capitalization above $10 billion, surpassing <a href="https://en.bitcoinhaber.net/tron-triumphs-usdt-supply-on-tron-blockchain-surpasses-50-billion" rel="noopener noreferrer nofollow">Tron</a> and moving into the twelfth rank by market value.</p>
<p style="text-align: justify">Chainlink’s price movements and the ensuing market excitement are tied to its role in tokenizing real-world assets. The network has recently emphasized its capabilities to traditional financial institutions, highlighting the need for data, computation, and cross-chain functionalities. Chainlink’s infrastructure is uniquely positioned to provide these services. Additionally, on-chain influencer “Satoshi Flipper” highlighted Chainlink’s involvement in the Xswap protocol, which leverages the Cross-Chain Interoperability Protocol (CCIP) introduced in July to ease cross-chain transactions.</p>
<p style="text-align: justify">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.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/chainlinks-link-token-surges-following-dormant-wallet-activity" rel="noopener noreferrer nofollow">Chainlink’s LINK Token Surges Following Dormant Wallet Activity</a></h5>

Chainlink’s LINK Token Surges Following Dormant Wallet Activity

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