New Chainlink Addresses Hit Highest Levels Since January – LINK Network Growth Accelerates
The post New Chainlink Addresses Hit Highest Levels Since January – LINK Network Growth Accelerates appeared on BitcoinEthereumNews.com.
Este artículo también está disponible en español. Chainlink is trading at crucial demand levels after days of consolidation below the $20 mark, struggling to reclaim momentum amid broader market uncertainty. The entire crypto market has faced heightened volatility and instability following weeks of selling pressure. Investors remain on edge after Friday’s Bybit hack, which saw $1.5 billion worth of ETH stolen, further fueling market-wide fear and caution. Related Reading Despite the uncertainty, Chainlink is showing signs of strength. Key data from Glassnode reveals that Chainlink network growth is accelerating, with the number of new $LINK addresses surging to 2,298—its highest level since January. This spike in network activity suggests increasing adoption and renewed interest from investors, potentially signaling a shift in sentiment for the oracle-based cryptocurrency. As Chainlink continues to consolidate at key demand levels, traders are watching closely for a potential breakout. A strong recovery in network growth could translate into higher buying pressure, helping LINK reclaim critical resistance levels and break out of its current range. However, if bearish sentiment persists, LINK could struggle to maintain support, leading to further downside. With the market at a pivotal point, the coming days will be crucial in determining whether Chainlink can capitalize on its growing network activity and push higher. Chainlink Grows Amid Uncertainty Chainlink has continued to expand despite the broader market uncertainty and volatility, demonstrating resilience even as prices struggle to break above key resistance levels. While many altcoins have faced extreme selling pressure in recent weeks, LINK has held strong above crucial demand zones, maintaining its position as a top-performing project in the Oracle sector. One of the key drivers of Chainlink’s strength is its continued strategic partnerships, including its collaboration with XRP, which highlights the growing demand for reliable decentralized data solutions in the blockchain space.…
Filed under: News - @ February 23, 2025 9:14 am