chainlink (LINK) has seen a staggering 20% increase in price recently, with an impressive wave of resurgence. On the other hand, it reached a three-month high of $8.34. This remarkable bullish trend has made LINK the third most popular topic in the crypto community.
The primary driver behind this rise is the massive on-chain volume LINK is experiencing. The digital asset witnessed $347.72 million in on-chain volume on Thursday alone. However, it marked the most significant on-chain transaction volume ever for LINK in 2023. The increase in trading activity underlines the growing interest and confidence in LINK among traders and investors.
📈🔗 #Chainlink is the #3 trending topic in #crypto after an impressive +20% day, returning to its highest price ($8.34) in 3 months. Thursday had $347.72M in $LINK on-chain volume, the largest of 2023. #FOMO could be the only obstacle holding it from $10. https://t.co/kNTvo6Pibg pic.twitter.com/f57RtOH3I5
— Santiment (@santimentfeed) July 21, 2023
NEWS CONTINUES BELOW
Reaching the highest price point in the last three months has raised the question of whether LINK will be able to break through the crucial psychological barrier of $10. Santiment analysts suggest that fear of missing out (FOMO) may be the only thing standing in the way of Chainlink from reaching this milestone. progress. The current momentum looks promising.
The rise in LINK’s price has come as many digital currencies gain in the aftermath of Ripple’s victory over the SEC in court. crypto- It came at a time when the market was showing signs of bullish momentum.
However, Altcoin’s price increase is increasing demand and optimistic sentiment for the coin. Given the inherent volatility of the crypto market, it is important for investors to exercise caution. But Chainlink’s massive increase in on-chain volume, coupled with its strong price performance, indicates that LINK may be on the verge of even more significant gains. If this momentum continues, the $10 price target may be achievable in the near future.