Crypto and blockchain market data provider Santiment announced that the unique amount of addresses interacting on the LINK network has reached a 3-month high. On August 20, the number of unique addresses was 8025.
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📈 #Chainlink jumped back to as high as $28.70 Friday, rebounding toward its recent $30.40 two-month high made Monday. The difference? The unique amount of addresses interacting on the $LINK network has surged to a near 3-month high, a promising indicator. https://t.co/LOD9eyTYsi pic.twitter.com/fM9UPCuhOP
— Santiment (@santimentfeed) August 20, 2021
The analytics site noted that this is a promising indicator.
Over the previous month, the price of Chanlink's native token LINK has doubled. Currently, Link trades at around $29. However, the token is still 45.1% down from its all-time high of $52.70 reached on May 10, 2021.LINK is the 13th largest cryptocurrency with a market cap of over $12.9 B. Chainlink is a decentralized network that employs third-party tools named oracles to get data from other blockchains. The ecosystem continues to develop. On August 13, Chainlink launched on Ethereum L2 scaling solution Arbitrum One.
This means developers on the Arbitrum One Network can get on-chain financial market data through Chainlink while building decentralized products.