{"id":62570,"date":"2023-10-25T03:02:02","date_gmt":"2023-10-25T07:02:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=62570"},"modified":"2023-10-25T03:02:05","modified_gmt":"2023-10-25T07:02:05","slug":"chainlinks-weekly-gains-extend-to-50","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/chainlinks-weekly-gains-extend-to-50\/","title":{"rendered":"Chainlink&#8217;s Weekly Gains Extend to 50%"},"content":{"rendered":"\n<p>Chainlink will presumably continue its &#8216;up-only' trend in light of the significant increase in <a href=\"https:\/\/coinscreed.com\/staging\/inactive-bitcoin-address-supply-hits-all-time-high.html\" target=\"_blank\" rel=\"noreferrer noopener\">active addresses <\/a>and network traffic.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"600\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-1-1024x600.webp\" alt=\"\" class=\"wp-image-62588\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-1-1024x600.webp 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-1-300x176.webp 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-1-768x450.webp 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-1-18x12.webp 18w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-1-1320x774.webp 1320w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-1-750x440.webp 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-1-1140x668.webp 1140w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-1.webp 1365w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Chainlink's Weekly Gains Extend to 50%<\/figcaption><\/figure>\n\n\n\n<p>The Chainlink price rally appears unstoppable as the LINK price surges another 12% to extend its weekly gains to more than 50%. At the time of publication, LINK is trading 12.28% higher at $11.42 with a market cap of $6.4 billion.<\/p>\n\n\n\n<p>This enormous price increase has made Chainlink (LINK) <a href=\"https:\/\/www.slickcharts.com\/currency\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">the twelfth largest cryptocurrency by market capitalization. <span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a>The recent price increase added over\u00a0<strong>$2 billion<\/strong>\u00a0to Chainlink's market capitalization.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-chainlink-contains-robust-on-chain-indicators\">Chainlink Contains Robust On-chain Indicators<\/h2>\n\n\n\n<p>In a recent social media post on X (formerly Twitter), Felix, a crypto analyst, analyzed LINK's price performance, indicating the potential for further upward movement, significantly if it surpasses the $9.6 resistance level, which has been in place for 500+ days.<\/p>\n\n\n\n<p>Felix also implied that significant investor accumulation may have contributed to this price increase. At approximately $7.26, roughly $9.92 million worth of LINK tokens were transferred from exchanges to accounts. Since then, LINK has increased by more than 50 percent.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" width=\"680\" height=\"244\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock.jpeg\" alt=\"\" class=\"wp-image-62586\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock.jpeg 680w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-300x108.jpeg 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-18x6.jpeg 18w\" sizes=\"(max-width: 680px) 100vw, 680px\" \/><figcaption class=\"wp-element-caption\">Courtesy: IntoTheBlock<\/figcaption><\/figure>\n\n\n\n<p>In addition, Felix highlighted the current substantial on-chain strength of the Chainlink ecosystem.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">LINK Price Target at $15?<\/h3>\n\n\n\n<p>Felix also emphasizes the prevailing &#8216;up-only' trend in LINK's price, with several metrics indicating a developing ecosystem. The network of Chainlink is experiencing an increase in both active and fresh addresses. <\/p>\n\n\n\n<p>According to<a href=\"https:\/\/www.intotheblock.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> IntoTheBlock data, <span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a>the number of active addresses on the Chainlink network has consistently increased alongside the price increase.<\/p>\n\n\n\n<p>The network has witnessed an extraordinary 112% increase in active addresses and a 190% increase in new talks over the past week. This expansion is also reflected in the rise in transaction volume, which reached a 7-day high of over 12,000 on October 23.<\/p>\n\n\n\n<p>The release of Chainlink Staking v0.2 is anticipated before the end of the year, which is additional good news for Chainlink enthusiasts and investors. Numerous individuals believe that LINK supporters will continue to gather in anticipation of this event.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink will presumably continue its &#8216;up-only&#8217; trend in light of the significant increase in active addresses and network traffic. The Chainlink price rally appears unstoppable as the LINK price surges another 12% to extend its weekly gains to more than 50%. At the time of publication, LINK is trading 12.28% higher at $11.42 with a [&hellip;]<\/p>\n","protected":false},"author":53,"featured_media":62588,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[6536,5676,16908],"class_list":["post-62570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","tag-chainanalysis","tag-chainlink-2","tag-chainlink-price-analysis"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/rock-1.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/62570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=62570"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/62570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/62588"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=62570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=62570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=62570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}