According to a new Santiment report published on 28 September, Chainlink [LINK] was seen showing massive signs of growth. This was in terms of number of transactions and whale interest as well. But, what spiked this kind of growth in a couple of days? Let’s find out… Growing apart Leading crypto analytics firm Santiment stated […]
As can be seen from the image below, Chainlink’s volume also shot up gradually over the past week. LINK’s volume surged from 452 million to 907.59 million at the time of press. Furthermore, Chainlink’s Market Value to Realized Value ratio was also positive. The number stood at 4.301%, which can be another bullish indicator for the LINK token.
All these factors have had a positive impact on Chainlink’s market capitalization too as Chainlink’s marketcap also witnessed growth in the last seven days.However, there are some causes of concern for potential investors here as well. Chainlink’s velocity saw a sharp decline since 27 September. This indicated that the number of times the LINK token exchanged addresses dropped dramatically.
Furthermore, a decline in Chainlink’s development activity can also be observed below. Thus, indicating that Chainlink’s GitHub didn’t observe much activity from the developers.Even though a majority of the factors are showing a positive future for LINK, readers are advised to read up onRead the best crypto stories of the day in less than 5 minutes
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