Cryptocurrency

Bitcoin

Chainlink

Rise

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/chainlinks-persistent-rise-in-the-cryptocurrency-arena" rel="noopener noreferrer nofollow">Chainlink’s Persistent Rise in the Cryptocurrency Arena</a><br></p>
<p style="text-align: justify">The cryptocurrency oracle network, Chainlink, has been showcasing a remarkable upward trajectory over the last half-year. From a humble $5.6, the value of its native token LINK has climbed to an impressive $20.15. This increase is backed by a series of positive developments that seem to promise continued growth for LINK’s value.</p>
<h2 id="recent-surge-in-chainlink-s-market-activity">Recent Surge in Chainlink’s Market Activity</h2>
<p style="text-align: justify">In the latest market movements, Chainlink has enjoyed a swell of address activity, contributing to a price peak of $20.856 on Binance—the highest point Chainlink has reached in 2024. At the time of reporting, LINK trades at $20.15, maintaining its strong performance.</p>
<p style="text-align: justify">Current evaluations place LINK near its highest valuation this year. It is becoming increasingly clear that various on-chain metrics are acting as catalysts for the altcoin’s price stability and growth.</p>
<h2 id="key-on-chain-indicators-bolster-chainlink-s-value">Key On-Chain Indicators Bolster Chainlink’s Value</h2>
<p style="text-align: justify">Three on-chain metrics in particular—active addresses, daily active addresses, and exchange supply—are underpinning LINK’s price ascension. February saw a surge in active addresses, peaking at 6,493 on the second of the month. Similarly, there’s a recorded 12.27% increase in new daily active addresses, echoing a general uptick in Chainlink network activity. A 5% rise in active addresses over the previous week further confirms the trend.</p>
<p style="text-align: justify">Additionally, the supply of LINK on exchanges has decreased, lessening the selling pressure on the market. Specifically, there has been a 4% reduction in LINK supply on exchanges this month, which aligns with the optimistic outlook for Chainlink’s price trajectory.</p>
<p style="text-align: justify">Analyst Michael van de Poppe had forecasted the potential for LINK to hit the $20 mark. Following recent <a href="https://en.bitcoinhaber.net/bitcoins-bull-run-on-the-horizon-insights-from-mn-tradings-founder" rel="noopener noreferrer nofollow">Bitcoin</a> price movements, he suggests that LINK could be propelled even higher—to $25 or $35 in the near future.</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-persistent-rise-in-the-cryptocurrency-arena" rel="noopener noreferrer nofollow">Chainlink’s Persistent Rise in the Cryptocurrency Arena</a></h5>

Chainlink’s Persistent Rise in the Cryptocurrency Arena

Mục lục

BH NEWS

Các bài viết khác được xuất bản trên 14 thg 2, 2024

Ethereum (ETH) holders buy into lending web3 platform Kelexo (KLXO) presale as Chainlink (LINK) p...

Are Ethereum Tips Useful? This Smart Trader Made Over $2 Million in 12 Hours With This Altcoin

Bitcoin breaches $1 trillion market cap

Pyth Network Price Prediction: PYTH Surges 14%, But Investors Turn To This New Solana Meme Coin F...

BobaCat Society Extends Warmth and Care to Aluksne “Astes un Usas” Pet Shelter

Bitcoin hits mind-blowing milestone – soars past $1 trillion market cap

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!