Momentum

Chainlink

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/new-data-shows-chainlinks-price-surge-drives-on-chain-momentum/" data-wpel-link="internal" rel="noopener noreferrer nofollow">New Data Shows Chainlink’s Price Surge Drives On-Chain Momentum</a> 
Recent data from market intelligence firm Glassnode reveals that the decentralized oracle network Chainlink (<a href="https://en.coin-turk.com/chainlink-continues-its-six-month-ascend-in-the-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">LINK</a>) is gaining momentum on-chain alongside its price increase.
<h2 style="text-align: justify" id="chainlink-insights">Chainlink Insights</h2>
In an announcement on the social media platform X, Glassnode noted improvements in LINK’s core indicators. The rise in the number of active addresses and increasing price suggest positive developments in LINK’s performance.
Glassnode reported that LINK has reached its highest price level since 2022, with open positions in futures hitting a new record of $770.27 million. This situation is considered an indicator of high trading activity. Such significant increases in investor interest often occur prior to major upward breakouts. Given the ongoing strong optimism for the first quarter of 2025, LINK Coin could aim for new all-time high (ATH) levels.
<h2 style="text-align: justify" id="link-coin-price-analysis">LINK Coin Price Analysis</h2>
The <a href="https://en.coin-turk.com/will-cryptocurrencies-continue-to-climb/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> analytics firm indicated that investors are realizing profits from LINK investments. It was noted that ultra-short-term and short-term investors are the group realizing the most profit. Long-term investors generally remain passive, while 11.6% of investors holding for 1-2 years have taken profit.
<blockquote>
 “LINK’s price increase is clearly driven by speculative and short-term market activities, yet fundamentals are also improving.” – Glassnode
</blockquote>
Despite the increase in momentum among active addresses, it remains significantly below the peak level of 23,416 addresses observed in 2021. This indicates that the user base is still in the expansion phase. LINK’s short-term simple moving average (SMA) is at $6.682, while the long-term SMA stands at $5.878, suggesting that the short-term trend supports the long-term trend.
Currently, LINK is trading at $24.96, experiencing a 6.5% decline in the past 24 hours. The price fluctuations reveal that different strategies are being employed among investors.
The increase in Chainlink’s on-chain activities indicates continued usage and adoption of the network, while price movements keep investor interest alive.
The post <a href="https://en.coin-turk.com/new-data-shows-chainlinks-price-surge-drives-on-chain-momentum/" data-wpel-link="internal" rel="noopener noreferrer nofollow">New Data Shows Chainlink’s Price Surge Drives On-Chain Momentum</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

New Data Shows Chainlink’s Price Surge Drives On-Chain Momentum

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