{"id":515920,"date":"2023-01-13T02:25:31","date_gmt":"2023-01-13T07:25:31","guid":{"rendered":"https:\/\/wncen.com\/?p=515920"},"modified":"2023-03-08T07:26:13","modified_gmt":"2023-03-08T07:26:13","slug":"chainlink-bullish-link-address-activity","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink\/chainlink-bullish-link-address-activity\/","title":{"rendered":"Chainlink Bullish Signal: LINK Address Activity Returns To 2021 Levels"},"content":{"rendered":"
Data shows Chainlink address activity has returned to 2021 levels recently, a sign that could turn out to be bullish for the asset\u2019s value.<\/span><\/p>\n According to data from the on-chain analytics firm <\/span>Santiment<\/span><\/a>, this increase in LINK activity first started around two months ago. The relevant indicator here is the \u201cdaily active addresses<\/a>,\u201d which tells us the total number of addresses that were involved in a transaction on any given day.<\/span><\/p>\n The metric counts both senders and receivers in its calculation, and only accounts for unique addresses in the data, meaning that the wallets that participated in multiple transfers on the same day are only counted once. This helps remove duplicate transactions and other noise from the data, and provides a more accurate picture of the network activity<\/a>.<\/span><\/p>\n When the value of this indicator is high, it means a large number of daily users are interacting in some way on the blockchain right now. Such a trend shows the market is active currently.<\/span><\/p>\n On the other hand, low values of the metric imply not many unique users are showing trading activity at the moment. This kind of trend can be a sign that the general interest around the crypto is low at the moment.<\/span><\/p>\n Now, here is a chart that shows the trend in the Chainlink daily active addresses over the last few years:<\/span><\/p>\n <\/p>\n As shown in the above graph, the Chainlink daily active addresses were at pretty low levels for most of 2022. This was because the investors weren\u2019t finding the coin that interesting to trade during the bear market consolidation.<\/span><\/p>\nChainlink Daily Active Addresses At High Levels Recently<\/h2>\n
Looks like the value of the metric has been elevated in recent weeks | Source: <\/span>Santiment on Twitter<\/span><\/a><\/pre>\n