Chainlink (LINK) Number of Exchange Deposits Soars 738.3% Along with Other Fundamentals

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Sat, 07/04/2020 - 08:08
Yuri Molchan
Glassnode has shared data about multiple LINK fundamentals surging with the number of exchange deposits in particular spiking almost 740 percent in the past 24 hours
Cover image via stock.adobe.com
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According to the research company Glassnode, the 13-ranked cryptocurrency Chainlink has reached several new highs and all-time highs both over the past twenty-four hours and longer periods.

However, even though the coin’s fundamentals are improving, the LINK price is taking another decline at the moment.

Image via CoinMarketCap

LINK exchange deposits surge 738.3%, along with other fundamentals

The analytics firm Glassnode has shared fresh data about Chainlink fundamentals to do with LINK transfers and exchange deposits spiking.

The number of exchange deposits (2d MA) has skyrocketed 738.3 percent in the past twenty-four hours. The same indicator 1d MA has hit a new ATH since September 25 last year.

Image via @glassnodealerts

Exchange inflow (1d MA) has also increased to a 3-month high and the index has hit a 1-year high with the previous reading taken in mid-March 2020.

Over the past twenty-four hours, the LINK exchange inflow has surged 177.6 percent and now totals 92,999.386 LINK versus the previous value of 33,496.270 LINK.

Image via @glassnodealerts

The number of active address and median transaction volume are on the list of increased indexes too.

Judging by these fundamentals’ growth, investors’ interest towards LINK is rising, with LINK being one of the most promising altcoin currently.

Related
Chainlink (LINK) Comes Close to New All-Time High After 11 Percent Rally. Will It Tank Like Compound (COMP)?

Chainlink recent achievements

As reported by U.Today earlier, the blockchain platform Chainlink inked two major partnerships in China and South Korea.

The Blockchain Services Network (BSN) of China spread the word about integrating the oracle network provided by Chainlink.

As for South Korea, another major market for blockchain solutions, Chainlink inked a partnership with the FLETA blockchain network supported by the Korean authorities.

The official statement said that Chainlink oracles were to be integrated into dapps for storing medical data on-chain.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.


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