According to the analysis conducted by Santiment, Chainlink (LINK) shows a significant upward signal as a leading project in blockchain oracle services. Details are in our news…
Analysis firm Santiment stated that, as a result of examining the events that took place on Tuesday, LINK witnessed large-scale transfers between wallets. Santiment identified this “enormous amount” of old coin transfers, noting that such large-scale movements often lead to significant changes in altcoin prices. According to analysis, the previous large transfer, which took place on September 15, increased the value of the LINK token by 31% in the following two weeks:
“Major legacy coin movement is often followed by large price movements, which occurred on September 15th and caused the LINK price to rise +31% over the next two weeks.”
LINK is trading at $14.36 at press time.
of Santiment to the reports According to Chainlink’s strong performance is not limited to price movements only; It also stands out among crypto projects in terms of development activities. According to analysis evaluating development activities on GitHub, Chainlink ranked sixth among other projects with 349.87 commits in the last 30 days. This shows that the project is actively developed and attracts great interest from the crypto community.
Polkadot (DOT) and Kusama (KSM) top the list with 551.7 commits each. Ethereum (ETH) rival Cardano (ADA) ranks third with 515.37 commits, while peer-to-peer payment network Hedera (HBAR) ranks fourth with 394.9 commits.
Santiment has previously said that intense development activity centered around a crypto project is a positive indicator that it could mean developers believe the protocol will be successful or introduce new features soon.
As a result, according to Santiment, the increase in the value of the LINK token and this dynamism in development activities reinforces Chainlink’s strong position in the industry. However, considering the nature of altcoin markets, it should be remembered that such investments involve risks and may be affected by price fluctuations. In this context, it is important for investors to carefully monitor market conditions and make informed decisions.
You can follow the current price movement here.