Chainlink (LINK) To Witness Rally Amidst Massive Network Activity

It has been just revealed that we can expect a strong rally from LINK. This is happening amidst a huge network activity. Here are the latest price predictions below.

According to a top analytics firm, Chainlink (LINK) and three other altcoins are expected to experience more surges due to positive on-chain data readings.

Specifically, the decentralized oracle network, Chainlink, has seen an increase in unique address activity, with the highest level in two months being recorded at 3,964.

The analytics firm predicts that Chainlink could experience further rallies, especially if market participants continue to overlook the altcoin’s performance.

Currently trading at $7.08, the firm attributes the recent climb to less social volume in the crypto market, causing more projects to fly under the radar.

As of now, LINK’s value is $7.22, which has increased by over 18% from its seven-day low of $6.09.

Santiment is closely monitoring the performance of Loom Network (LOOM), Frontier (FRONT), and ImmutableX (IMX), which are decentralized application (DApp) platforms and decentralized finance (DeFi) aggregation layers.

These three altcoins are outperforming the rest of the cryptocurrency market due to their increased adoption lately. According to Santiment, “Loom (+145%), Frontier (+138%), and ImmutableX (+29%) have been strong performing assets over the past week.

Each has enjoyed major network growth (new addresses being created). If this growth is maintained, their prices can continue their rallies.”

In regards to Bitcoin, Santiment reports that the number of addresses holding less than 100 BTC has reached an all-time high, owning 41.1% of the available supply.

While non-whale wallets are buying more Bitcoin, Santiment notes that whales, or entities holding 100 to 100,000 BTC, have been selling Bitcoin since June.

There are all kinds of optimistic predictions about the prices of digital assets these days and Bitcoin is seeing a favorable path as well. Stay tuned for more reports and price predictions from the crypto space.