Why Chainlink Price Spiked In 24 Hours?

Data from on-chain analytics company Santiment reveals that Chainlink’s latest price pump was followed by a big rise in exchange inflows, according to a recent tweet from crypto analyst Ali.

The data shows that almost 15 million LINK were moved to wallets associated with well-known cryptocurrency exchanges. At the time of publication, Chainlink’s (LINK) price had risen to intraday highs of $6.84, and today is expected to be the fourth day in a row of positive price movement.

Bulls had another strategy as they purchased the dip at every opportunity, despite bears having their reasons for wanting to drive the LINK price down. The story of falls leading to a continuation of the rise was obscured by the prospect of a further price hike.

In the past 24 hours, this resulted in additional price increases. The high volume of LINK wallet activity over the past few months has been a good sign for Chainlink’s pricing. This year, there have been more substantial holders added to chainlink.

Addressing 10,000 to 1 million people with sharks and whales According to on-chain analytics company Santiment, LINK had been accumulating tokens as the downturn market progressed.

Chainlink’s active address numbers have reached a one-year high despite concerns about the FTX implosion spreading. Recent information from cryptocurrency data tracker WhaleStats indicated that LINK was among the top cryptocurrencies held by the top 5,000 Ethereum whales, indicating significant.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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