As altcoin prices surge, LINK has emerged as one of the biggest winners. Data obtained from Glassnode, a crypto analytic data firm, showed that liquidity pouring into the fast-growing crypto asset has hit all-time high. Note that this is not just in terms of price, but also in terms of on-chain adoption.
Amongst the altcoin surge of the past week, LINK has been one of the biggest winners, reaching a new all-time high at $8.33 yesterday, although currently sitting at around $7.30.
Just recently, LINK exchange deposits spiked again bringing net flow back into the positive numbers, as more LINK flows to exchanges.
As altcoin prices surge, $LINK has emerged as one of the biggest winners.
With liquidity pouring into the asset, it is hitting all-time highs not just in terms of price, but also on-chain metrics.
Crypto behaviour analytics platform, Santiment, in it feeds detailed that its on-chain volume, along with social volume and daily active addresses, is a “great triple thread to track.” These macros help track whether a given crypto asset is poised to continue its bullish momentum, and in LINK’s case it shows the momentum is still on
LINK is continuing to see sky-high daily active addresses, indicating just how active the network has been. The four highest outputs in network activity over the past year for Chainlink have occurred in the past six days.
Chainlink is a blockchain that is designed to bridge the space between blockchain technology-based smart contracts (created by ETH), and other user programs. Since blockchains by principle can’t have access to data outside their path or network, a defi instrument is needed to facilitate data feeds in smart contracts making chainlink helping to solve such need.
Among the leading 20 cryptocurrencies in market capitalization, it is the only one in this space we view as the only top-20 token with a broad, adaptable business application that is easily explained to an average person: ChainLink is the first successful Blockchain application to interact with the outside world.
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