Hello everyone here again a piece of interesting news that I thought everyone should know. As you know, Chainlink has been showing only green candles in recent weeks. Now I am not really a fan of Chainlink, but certainly not a hater. I also believe in the project itself, but to call myself a die hard link fan no. These weeks Chainlink showed that it is a special project with many followers. On July 15, a record was broken. On this day, Chainlink had seen a price increase to $ 8.91. According to CryptoSlate, this is an increase of up to 500% against Chainlink's depths in March of this year.
Now this means that the volume in the market has surpassed Ethereum. This is not very special, which would make it special if it is held by Chainlink holders and buyers.
Qiao Wang is a Bitcoin trader and crypto comentator, and has said the following about this:
The non-zero balances chart
It has been measured that Chainlink had a 24-hour volume of $ 473 million and Ethereum had a volume of $ 315 million. This means that Chainlink has traded most in trading volume after Bitcoin. At the time of writing, Chainlink is in 8th place.
But Chainlink shows other things that are very remarkable. You can see in this graph that I got from Glassnode that the number of addresses where Chainlink is stored is increasing.
CryptoSlate’s Cole Petersen has said the following about this:
Why this price increase?
But why is the price of Chainlink rising so fast? This is due to the growth in the number of partnerships that Chainlink has entered into. An example of this is Huobi and the Blockchain Service Network I have written about before.
The exhange outflow should show and indicate that more and more people are keeping their Link for the long term.
Final thoughts
Now you can conclude that many traders and Chainlink owners are very bullish about Chainlink. So they expect Chainlink to show even more All time Highs.
A Bitcoin trader on Twitter said:
If #Bitcoin does not ruin the party, there is no reason why $ LINK does not continue on into double digits.
It would be conservative even, considering we just broke out of a major range.
20 $ + $ LINK would not surprise me at all.
You can tell from this that many people are very bullish about Chainlink. But of course there are also disadvantages and these may be that Bitcoin suddenly starts to rise sharply and thereby takes the profit because Bitcoin is and remains the queen of the crypto.
