Whales and sharks showed massive interest in Chainlink in the last few days Chainlink made numerous integrations across networks, but interest in some services declined Santiment, in a tweet on 4 December, observed that whales had accumulated large amounts of the LINK token. An increased interest from large investors could induce a surge in LINK’s […]
However, despite providing its technologies to various protocols in Web3, there was a decline in demand observed for some of its technologies.
According to data from Dune, the demand for Chainlink’s VRF technology dropped. Additionally, the number of VRF requests on the BinanceSmartChain reduced over the past few months.Along with the declining demand for its VRF technology, LINK’s activity dwindled on-chain as well.LINK’s velocity fell over the past month, as the number of times LINK was being exchanged amongst addresses had diminished. Coupled with this, Chainlink’s transaction count declined as well.
However, in terms of development activity, Chainlink witnessed a spike over the last few days. This implied that the developers at Chainlink were making more contributions to the network’s GitHub. This could be attributed to the upcoming launch ofIt remains to be seen what impact whale interest will have on Chainlink and whether the launch of staking will prove beneficial for LINK holders.
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