2024

bullish

Read

Chainlink

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr"><a href="https://u.today/chainlink-link-is-108-away-from-3-year-peak-will-it-match-up" rel="noopener noreferrer nofollow">Chainlink</a> (LINK) might witness a breakout as several metrics favor the cryptocurrency in the last three weeks. Notably, data shared by IntoTheBlock, a market intelligence platform on X, show promise. According to the<a href="https://x.com/intotheblock/status/1866106655504842787" rel="noopener noreferrer nofollow">data</a>, LINK has surged by 142% in the last month and now averages 8,220 daily active addresses.</p>
<h2 id="chainlink-s-metrics-point-to-growing-adoption">Chainlink’s metrics point to growing adoption</h2>
<p dir="ltr">This spike in daily active addresses interacting with Chainlink’s network signals increased user engagement. This figure refers to the volume of users that either send or receive transactions daily.</p>
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr">Chainlink is currently averaging 8.22k daily active addresses, a remarkable 142% growth compared to one month ago <a href="https://t.co/hwicbKPXvi" rel="noopener noreferrer nofollow">pic.twitter.com/hwicbKPXvi</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1866106655504842787?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 9, 2024</a>
</blockquote>
<p dir="ltr">Since early November, Chainlink has recorded a significant spike, rising by over 80% in its price. The surge took the asset to the height it last reached in January 2022. LINK was able to weather the storm of market volatility for about three weeks before experiencing a correction.</p>
<p dir="ltr">Despite this, analysts remain bullish on LINK. Some have predicted that Chainlink could breach its all-time high (ATH) if it crosses the $50 level. The last time LINK’s price climbed to record levels was in May 2021, with the asset rising above the psychological $50 mark to hit $52.82.</p>
<h2 id="overcoming-volatility-and-eyeing-new-highs">Overcoming volatility and eyeing new highs</h2>
<p dir="ltr">With the increased adoption signaled by the average daily active address count, analysts say more users are embracing the service, possibly due to its<a href="https://u.today/chainlink-link-rebounds-as-new-swift-integration-goes-live" rel="noopener noreferrer nofollow">decentralized Oracle solutions</a>. Generally, in the crypto space, increased activity aligns with a surge in demand for coins.</p>
<p dir="ltr">Many experts believe LINK could test the $30 level in no time if it sustains the current momentum in boosts in address count.</p>
<p dir="ltr">This potential outlook could drive <a href="https://u.today/chainlink-skyrockets-1219-in-whale-activity-as-link-price-suddenly-jumps-31" rel="noopener noreferrer nofollow">demand</a> for LINK and influence its market value. Market observers believe Chainlink needs to sustain users' interest to support a price climb in the long run.</p>
<p dir="ltr">As of this writing, LINK was <a href="https://coinmarketcap.com/currencies/chainlink/" rel="noopener noreferrer nofollow">trading</a> at $25.78, representing a 1.96% drop. The asset climbed to $27.23 in earlier trading before witnessing volatility that saw its price fluctuate. Despite this, LINK’s technical indicators show promise of likely bullish momentum that investors appear willing to bet on.</p> <a href="https://u.today/chainlink-eyes-breakout-with-142-address-count" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Chainlink Eyes Breakout With 142% Address Count

Table of Contents

U_Today

Other articles published on Dec 9, 2024

M3 DAO Invests $1 Million in U-topia Fueling MediaFi Growth

Bitcoin hits $100k, altcoin season next: BEST, SUI, WIF set for breakout

Rising Star Altcoin Poised to Surpass Avalanche and Polygon in the Christmas Bull Run

Here’s Why AAVE Price Could Skyrocket to $400

Lumoz Protocol Mainnet Launch: MOZ Tokens and Node Claims Now Open!

National Center for Public Policy Research Recommends Bitcoin Treasury for Amazon

Join our free newsletter for daily crypto updates!