Evaluate what is Chainlink [LINK] Popularity could mean improved for its price

  • LINK has the highest score in Galaxy
  • The interest of whales has also increased

chain links [LINK] The price action has recently adjusted to the interest of the investors as its price recorded a 10% increase in the last 24 hours.

At the time of writing, LINK was trading at $6.54, with a market capitalization of over $3.3 billion. Interestingly, some of the new updates that have surfaced suggest that things could improve soon, as they hint at a further price hike. For example, LINK was on the list of top-scoring cryptocurrencies for Galaxy, which is a huge bullish sign.

Read chain links [LINK] predict the price 2023-24

Chainlink has grown in popularity

In addition, the LINK environment has also improved on the social front. According to LunarCrush, there has been an increase in social contributors followed by an increase in social engagement. Which reflects the growing popularity of the token in the crypto community.

Link It also managed to get interest from whales, which was good news as it indicated that major players in the market have confidence in the token.

According to WhaleStats, a popular Twitter indicator that posts updates on whale activity, LINK was recently shared among the top 5,000 Ethereum whales holding cryptocurrencies.

What the measurements have to say

LinkThe numbers in the series also sounded optimistic, as they also hinted at a possible continuation of the uptrend in the following days.

CryptoQuant data revealed that LinkNet deposits on the exchanges were lower compared to the 7-day average, indicating lower selling pressure.

Conversion volume has also been growing over the past 24 hours, which again was a positive sign. Interestingly, according to the Santimnet chart, the volume of LINK has increased over the past few days, which increases the chances of an upside move.

Source: feeling

However, some scales are not supported by LINK, which can cause problems. For example, LINK’s MVRV is lower compared to last week, which is a bearish sign.

LINK’s growth has taken a side path, too. The network’s currency reserves increased, indicating higher selling pressure.

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