According to Chainlink (LINK) on-chain data, the number of active addresses has reached the highest level in the last year. The activity in the number of active addresses recorded an average 10% increase in price.
On-chain analytics firm centiment‘of to the data According to the report, more than 8,000 LINK addresses were active daily last week, recording the highest level in the last 18 months.
“Active addresses” is one of the key indicators that measures addresses involved in a transaction on any given day. When the value of the metric is high, it means that there are many addresses involved in the transfers. Such a trend means that interest in the crypto asset is high among traders.
On the other hand, a low value means that there is little investor interest in the blockchain. Such a trend also results in a low number of transactions.
As you can see in the chart above, Chainlink active addressesThe numbers have increased in the last few weeks.
Koinfinans.com As we reported, the increase that started following the collapse of the FTX stock market coincided with a period of general decline in prices.
Over the past week, the indicator has reached 8,000 daily addresses, its highest value about 18 months ago. Although the number of addresses decreased after the peak, it remained at the highest level of a year.
As a result, it can be interpreted that investors show demand despite the bad market conditions.
chainlink price FTX Although it was hit hard by its collapse, it gained 10% in 24 hours. Indeed, the current high activity is quite positive for LINK’s latest rally.
Chainlink’s price was down 3% last week, hovering around $6,347. As a result, LINK has lost 7% over the past month.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.