Santiment recorded the highest activity on the Chainlink network for 5 years

On June 28, users moved 80,8 million unique LINK tokens

29.06.2022 - 08:55

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What’s new? Analysts at Santiment have recorded a record activity on the Chainlink (LINK) decentralized oracle network for 5 years. On June 28, 80,8 million unique LINK tokens were moved by users. This is the largest figure since the initial coin offering (ICO) in September 2017.

🔗 #Chainlink saw a mild -4% drop alongside the #altcoin pack. However, one thing stood out... 80.8M cumulative unique $LINK moved addresses Tuesday, breaking a 5-year record. Its opening trading days in September, 2017 were the only time we've seen more. https://t.co/DfBFKRZdMs pic.twitter.com/HMVLXAjrQI— Santiment (@santimentfeed) June 29, 2022

The Chainlink network is based on the Ethereum blockchain. The platform handles verification and data collection from external sources for other smart contracts. In June, the team announced the launch of a staking feature that will be available in the second half of 2022, as well as the development of a new consensus algorithm, Proof of Reserves (PoR), which will the transparency of transactions. As of June 29, 09:30 UTC, LINK is trading at $6,44, down by 4,17% per day, according to Binance.

Earlier, analyst Kevin Svenson predicted a 100-fold return on LINK when buying the token in the $2-3 range. According to Svenson, the price of the asset will fall to that mark if the Ethereum (ETH) rate drops to $500-700.

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