The Chainlink (LINK) market has been mum amidst the recent market crash. The altcoin saw a 22% drop over the past week. The asset was trading at $10.11 with barely any rise over the past 24 hours. The market value of LINK increased by 3% to $6.214 billion, and its trading volume was $329.69 million. Its market capitalization grew to become the 16th largest intraday cryptocurrency globally.
It looks like LINK wouldn’t have been drowning in the Red Sea for too long. The altcoin is expected to witness a surge over the next couple of days. The asset will rise to a high of $15.94 next week following a 58% uptick from its current price level. It should be noted that Chainlink is over 80% below its all-time high of $52.88.
Also Read:Chainlink: LINK Forms Pattern That Could Trigger 27% Rally to $18
Chainlink Records Increase in Active Addresses
Chainlink, according to IntoTheBlock, an analytical website that has assisted users in tracking the success of several cryptocurrencies revealed bullish news. The network recorded the highest amount of active LINK addresses since May, which is unquestionably a noteworthy development in the cryptocurrency world.
The increase in active addresses indicates that more transactions are being made by users. This was during a period when other assets were leaving exchanges. On trading platforms, an accumulation stage frequently comes after such a move. Holders of LINK were unaffected by the recent volatility and variations in the market. It has sparked accumulation rather than putting a stop to it. This pattern raises hopes for Chainlink’s performance and prepares the cryptocurrency market for a potential uptrend. But a double-digit surge of up to 58% could be life-changing for several investors.
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