Massive spike in network activity helps drive Chainlink (LINK) price higher

 

Massive spike in network activity helps drive Chainlink (LINK) price higher

Chainlink’s intense uptrend seen throughout the past several weeks has allowed LINK to set fresh all-time highs once again.

The cryptocurrency rallied as high as $6.50 before facing some rejection that sparked a slight selloff, although it is now in the process of journeying back up to these highs.

New data shows that a massive spike in network activity is helping to drive the cryptocurrency higher, signaling that the latest leg of its multi-year high is being driven by fundamental strength rather than pure investor hype.

The four highest network activity outputs in over a year have been posted by LINK throughout the past 6 days.

This also comes as the cryptocurrency’s top investors continue adding to their positions – a trend indicated by the concentration of Chainlink tokens amongst the top one percent of investors.

Chainlink sets fresh highs as whales continue accumulating LINK

It has been a whirlwind of a year for Chainlink. The cryptocurrency was able to extend the parabolic…


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