Striking Data For Chainlink (LINK): Will The Rise Continue?

According to on-chain data, 56 percent of Chainlink investors became profitable, while daily #link transactions increased by 436 percent.

#Chainlink (LINK) took off in the bull run that started with the #Bitcoin spot ETF news. One of the most rising cryptocurrencies in recent months was LINK. IntoTheBlock conducted on-chain research on Chainlink.

According to the data, LINK, which experienced a 76 percent increase last month, finally made its investors happy. 56 percent of LINK investors made a profit after a long time with the last rise. Additionally, daily LINK transactions increased by 436 percent.

Chainlink (LINK) data makes the bulls hungry

On-chain data compiled by IntoTheBlock highlights continued potential for #Chainlink $(LINK). The data contains striking details.

According to IntoTheBlock's Chainlink data, the number of investors who have been at a loss for a long time and made a final profit with the latest rise has reached 56 percent. In the last bear market, 70 percent of LINK investors were at a loss. While the possibility of profit-making investors creating sales pressure was on the table, Chainlink data revealed a different view. Chainlink's daily transaction count increased by 436 percent from its lowest level in the month. The increased frequency of transactions on LINK stands out as a response to sales pressure.

There is a similar increase in total transaction volume. According to IntoTheBlock data, LINK had a daily volume of $515 million last week. Similar transaction volume on the Chainlink network was seen in July 2022. Witnessing a huge expansion after a year, LINK gave a potential bullish signal.
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