Will Chainlink (LINK) Continue Its Bullish Momentum? Here’s What the Data Says

• Chainlink (LINK) prices surged 7.3%, surpassed $26.75, signaling a major market turnaround and renewed investor interest.
• LINK’s exchange supply dropped 0.95% in the last month, indicating long-term holder confidence and less selling pressure.
• The average age of LINK tokens fell 6.3%, signaling increased trading activity and growing interest from new investors.

Chainlink (LINK) token prices rose 7.3% to move past $26.75. The cryptocurrency enters a major turnaround. Market observers and industry experts are now paying more attention to the surge.

Positive Signs for Chainlink

Santiment data reveals two main positive signs that make traders hopeful about LINK’s future. The number of LINK tokens available for exchange has dropped. The past thirty days show a 0.95% reduction in LINK tokens available across exchange platforms. The metrics show that token holders are maintaining their digital assets. Investors typically show more confidence when tokens leave exchange platforms. The departure of tokens from exchanges usually indicates that owners intend to keep their tokens for an extended time.

The second bullish indicator comes from the decreasing average age of LINK tokens being held. Per Santiment data, LINK tokens have a 6.3% reduction in their holding period compared to earlier averages. 

New investors increasingly purchase LINK tokens in this market. Newer tokens in the market help prove that trading activity is increasing right now. New age statistics of tokens show investors are actively trading their assets which drives up market demand.

Market growth for Chainlink shows through decreasing exchange supply and a decline in token age. Market participants monitor these metrics because they indicate Chainlink is ready for additional price appreciation.

Future Growth Potential for Chainlink

When exchange reserves decline, it shows investors are keeping their Chainlink for the long haul which usually predicts market growth. The token price may increase if strong demand persists against a shrinking supply of sellable assets. New buyers actively enter the market according to the fresh average age of tokens. Market entry by fresh investors suggests Chainlink will keep growing.

Even though what comes next is hard to determine Chainlink’s latest market performance together with market signals suggest a positive direction ahead. People who trade and invest in cryptocurrencies have started paying more attention to this digital asset again. LINK trades at $25.90 currently but dropped by 0.23% since yesterday and a 28.80% increase over the past day.

Source: TradingView

Chainlink needs the next several weeks to show its true market potential. People are watching LINK closely while hoping it keeps improving from its latest performance.