As the crypto market resumes with notable bullish price actions today, Chainlink (LINK) has shown massive strength after surging by over 11% on Tuesday, according to data from Santiment.
This surge in Chainlink’s price comes as the thirteenth-largest cryptocurrency by market capitalization responds to the broad crypto market resurgence fueled by easing tensions on the buzzing Middle East troubles.
Notably, the token has led the top 15 largest cryptocurrencies by market capitalization with the highest price gains for the day.
Data provided by the source shows Chainlink has skyrocketed massively by over 11% in just 24 hours. This sudden price surge has triggered attention across the crypto ecosystem as it comes just after weeks of sideways movement that saw LINK investors lose confidence in the token’s short-term potential.
Despite falling as low as $11.5 one day ago, LINK is now trading at $13.34 as of press time, reflecting a price surge of 8.13% over the last day, according to data from CoinMarketCap.
Chainlink holders hit 769,380
Although the notable price recoveries span across the broad crypto market, this explosive price action was further fueled by a notable growth in the number of LINK holders.
According to the latest update from Santiment, Chainlink has just surpassed its all-time high in the number of wallets carrying LINK tokens. Notably, the total number of LINK holders stands at 769,380 as of June 24.
While this coincides with the massive surge in LINK’s price for the day, it appears that shifting sentiments have seen floods of new investors joining the Chainlink community.
While this indicates growing investor interest, market watchers believe that this positive metric could further send the oracle network's crypto toward a more massive price breakout.
Further metrics projected by the source show that LINK buyers are now at lesser risks than usual, as active wallets carrying the token over the last year are down by around 17%, pointing out unexpected opportunities in its long-term investing timeframe.
U.Today Editorial Team
Vladislav Sopov