Growing network activity triggered a 30% surge in LINK

by in Cryptocurrency News

Chainlink

Altcoin Chainlink (LINK) began the new week with updating highs.

Over the past 24 hours, the coin soared in price by 30% and reached $ 7.8. Cryptocurrency capitalization now exceeds $ 2.757 billion.

Strengthening the LINK course is not surprising among experts, as the number of active addresses in the project ecosystem continues to increase rapidly. Analysts from the Santiment platform previously drew attention to this trend.

According to them, at the end of last week, network activity on Chainlink was at the highest level in the previous year.

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Back in June, analyst Mati Greenspan predicted that LINK aims to take on new heights. The expert turned out to be right, individually since the beginning of 2020, the number of LINK addresses has grown by 100%.

Glassnode also reports on the growing transactional activity in the Chainlink ecosystem. On July 13, the activity indicator reached a five-month high (since February 13, 2020).

If you look at the altcoin movement chart since its creation in September 2017, you can see that the LINK showed the first maximum in January 2018 ($ 1.54). In July 2019, a new height of $ 4.8 was taken.

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Then another spurt occurred in 2020 before the March collapse. Overcoming resistance at $ 8 will create the conditions for achieving more impressive results by the end of the summer of this year, observers predict.