As Bitcoin dominance drops, Chainlink exploits the market shift

Chainlink [LINK] has gained much traction of late as its price rallied substantially during the last week.

dominance witnessed a slight drop in the recent past. Let’s take a closer look at what’s actually going on.

The rise in popularity had a positive impact on the blockchain’s network activity, as its number of transactions started spiking. However, it was interesting to note that the rise in transactions didn’t help attract more users, as there was not a major change in its new address graph. Apart from that, whales were also stockpiling LINK, as its addresses holding over 0.1% of the supply show a net accumulation of 25 million LINK over the past month.At the time of writing, it was trading at $16.22 with a market capitalization of over $9.5 billion.

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