Chainlink witnessed massive volatility after the launch of its staking protocol Interest in staking gradually declined as selling pressure took over Chainlink witnessed quite a lot of volatility in its price range of $9.35 to $5.59. This occurred due to the launch of staking on Chainlink. However, according to Santiment, the interest in staking eventually […]
, Chainlink’s social mentions reached an all-time high. It remains to be seen whether this spike in social mentions translates to positive price action for LINK in the coming future.
Despite the spike in social mentions, Chainlink wasn’t able to garner much interest from new addresses. As can be seen from the image below, Chainlink’s network growth declined significantly over the last few days. This revealed the fact that the number of new addresses transferring LINK for the first time had reduced.
Activity on Chainlink, however, increased during this time period. Chainlink’s velocity metric noted an increase. This implied that the frequency at which LINK was being traded had increased immensely.Source: Santimentthat they would be integrating their Proof of Reserve technology for FluentDAO, a bank-led stablecoin protocol.
At the time of press, Chainlink was trading at $6.87 and its price had decreased by 0.67% in the last 24 hours.Subscribe to get it daily in your inbox.
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