Chainlink is Growing a Very Optimsitic Rate but What is the Reason Behind It?

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • Chainlink has seen a large growth in the number of addresses which grew 4,300 addresses in the last week.
  • LINK is getting more popular on social media, too, and the engagement from the community has seen tremendous growth over a short span of time.

The data from IntoTheBlock suggests that Chainlink is growing at a very high rate, the reason for which could be its community becoming more optimistic about it.

Each day there are even more addresses being created, and the count of the holders is continuously rising. All of the social media platforms can be seen as being very positive about the LINK. This might be a sign of a further price appreciation.

Chainlink has seen a large growth in the number of address which grew 4,300 address in the last week and there has been noticed pretty similar behavior with the number of address that is holding LINK.

IntoTheBlock has a table which statistically differentiates the address. All the addresses that held an asset for more than a year are known as ‘holders.’ And those who have held an asset for a set period of 1 to 12 months are called ‘cruisers.’ If somebody holds an asset for less than one month, they are called as ‘traders.’

Based on the classification method explained above, currently, there are over 20 thousand chainlink holders. These over 20 thousand represent more than 20 percent of the total address.

63.72 percent of all the accounts are considered to be cruisers. The remaining address that is only 16.27 over 16 thousand addresses is the active trading ones, meaning they have held an asset for less than a period of one month.

LINK is getting more popular on social media, too, and the engagement from the community has seen tremendous growth over a short span of time. The engagement went as high as 27 million hits in just 16 days.

All the positive attitude could be a dangerous sign too, just like warren buffet once said that “Be fearful when others are greedy and greedy when others are fearful.”

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