Chainlink (LINK) surpassed the $12.50 price level for the first time since April 2022, as current data points to potential higher gains shortly.
Chainlink soared beyond this historical price level over the weekend, and currently, the token has a market value of $12.58, up 2.57%, and a capitalization of $6,937,152,347. A 14.23% complements this positive growth outlook in its trading volume to $718,168,255.
? #Chainlink has jumped all the way above $12.50 this weekend, crossing this threshold for the first time since April, 2022. The amount of wallets that hold at least 1K $LINK (currently worth $12,150 or more) has hit a new #alltimehigh of 27,152 wallets. https://t.co/yQ87RNZCPv pic.twitter.com/ZIBixZWP8D
— Santiment (@santimentfeed) November 5, 2023
Chainlink Uptrend is Encompassing
One key metric visible in the resurgence of Chainlink’s price is the count of holders with at least 1000 LINK coins. Santiment data shows the number of holders with at least 1K LINK has soared to a new All-Time High (ATH) of 27,152 wallets.
The analytics platforms shared a chart that shows 1,474 wallets holding over 1,000 LINK have appeared on the network in the past two months. With the monetary value of these 1K LINK wallets pegged at $12,158 based on current market valuation, the growth trajectory has been consistent since at least July 5 to date.
An interesting perspective to this Chainlink 1K plus wallet holders is that the growth to this category of holders is not impacted by LINK price action. This metric continued upward when the price dropped from $8.32 on July 21 to $5.9597 on September 9.
The uptrend remained undeterred as LINK price recovered and set sail for the 19-month high spotted by Santiment. Link price is now up 97% in just two months.
Notable LINK Trigger to Watch
The Chainlink protocol is gaining immense recognition for its role in the industry, not just as a decentralized oracle provider but also for the Cross-Chain Interoperability Protocol (CCIP), an innovative solution it introduced recently.
In all this, Chainlink has unveiled a revamp to its Staking offering as it seeks new avenues to democratize and reward participation in its ecosystem. In the past months, whales have taken a special likening to LINK, and their influence might also contribute to impressive price surges moving forward.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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