- More than 50% of Chainlink (LINK) holders have secured significant profits as altcoins continue to strengthen their position in the crypto market.
- Three altcoins joined Chainlink (LINK) to secure some of the highest monthly gains in the top category, going up to as high as 98%.
The native token powered by the Chainlink network has been making waves in the altcoin community for its remarkable performance. As altcoins attempt to reclaim their position in the market, LINK is at the forefront of the gains. The asset is not only soaring in value but also helping its traders and investors soak up profits.
As depicted by our data, the LINK token is currently the 12th most valued cryptocurrency by market cap. Sitting right above the Toncoin, and behind MATIC, LINK bulls are working overtime to keep the asset in the green zone.
According to recent data from IntoTheBlock, a platform providing individual investors with leading crypto insights, LINK’s technical metrics are more bullish than they are bearish.
Notably, LINK has seen transactions greater than $100,000 soar by a staggering $1.79 billion over the last 7-days. Daily transaction volume has increased by 54%. For the majority of LINK holders, the market stands in their favor at this time, as the data shows that although 40% are on the bearish end, 56% are in the bullish zone.
These metrics are also reflected in the rate at which LINK’s holdings are rising. The asset’s performance has been attractive enough to retain some of LINK’s oldest holders.
SOL, AVAX bad MATIC are just as bullish as LINK
According to data depicting the concentration holdings by large holders, the total holdings of whales (addresses that own more than 1% of the circulating supply) and investors (addresses that own between 0.1% and 1% of the circulating supply) is up by 69%.
Holder’s compositor data also shows that 71% of holders have been in the market for more than a year, while 29% have only been in the market for less than a year. Total exchange inflows over the last week sit at $181.83 million, while outflows total at $200.11 million. The data also revealed that LINK’s correlation with Bitcoin is currently at 0.92.
The technical charts are just as attractive for LINK as the fundamentals. Over the last month, LINK has seen its gains soar by 98%; the second largest gains sustained by an altcoin within the top 12 category after Solana (SOL).
LINK’s weekly gains are nearing 10%, and its price value now sits at $14.56 at press time. It is also worth noting that LINK’s trading volume is on the verge of tapping the $1 million mark. Like LINK, assets like Polygon (MATIC), VALANCHE (AVAX), and Solana (SOL) have recorded massive success in the last month.
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