The Chainlink (LINK) network has now achieved a new milestone with the value of transactions the network handles. According to information from crypto data analysis service, Glassnode, the network has now processed $30,005,175,590 worth of transactions since Chainlink launched back in 2017.
Currently, Chainlink’s market performance is still waxing strong. LINK is currently the 7th largest crypto in the sector, with a market cap of $3.87 billion. Currently trading at $11.04, LINK’s average trajectory looks bullish. Although it has lost 3.81% in the last 24 hours, LINK has climbed nearly 20% in the past seven days.
LINK tested its $8.80 support mark recently, and performed impressively, pushing past the mark. It revisited its previous psychological level at $10, surpassed it, and is now on its way to testing the $12 mark.
Currently, the asset is above its 100-day and 200-day moving averages, a sign that LINK is currently bullish. Although the 5-day moving average is a tight spot, there is not much of a pointer to a bearish near future for LINK. Note that the asset’s daily MFI sits at 55, a neutral position. This however means that LINK could swing either way.
LINK’s next short term resistance levels from its current price are $11.80 and $12. If LINK crosses $12, it has to hit $12.37, and $12.46.
