Chainlink Price Sees a 45% Price Jump While Bitcoin Consolidates
While Bitcoin hovers around $34,200, Chainlink (LINK) sees a big price jump but user activity drops. Current LINK price: $11.53.
Even as Bitcoin stays around $34,200, other coins like Solana (SOL), Cardano (ADA), and Chainlink (LINK) are gaining in price.
Chainlink's price has risen a big 6.6% in just one day, almost reaching $12. In the last 10 days, LINK's price has gone up about 45%. A famous crypto expert, Ali Martinez, said that Chainlink's chart shows a sign of more price growth, maybe reaching $13 soon.
Today, Chainlink’s price increased to $11.50 because a lot more people were buying and selling it. But, people who want to buy now should be careful. Amid the rise in price, it was noted that the number of people using Chainlink has gone down, the network has witnessed a 60% decrease in activities.
On-chain data, which is like a record of all transactions, shows that on October 23, Chainlink had its highest number of users in 3 months. After this, its price went up to $11.50, a price we haven’t seen since last year. But, in the week after October 23, the number of users went down a lot, by 60%.
Fewer users can be a bad sign. It means fewer people want the coin. The chart shows that Chainlink's user numbers dropped a big 60% in a week.
Another report says that fewer new people are joining Chainlink. On October 23, many new people joined, but after that, the number went down 60%. When there are a few new users of the network, it can also make the coin's price go down.
At the time of Writing this article, LINK price stands at $11.53
Below is a chart showing Chainlink's Price movement in the past 7 days https://coinpaprika.com/coin/link-chainlink/
