At a time when both stock markets and cryptocurrencies are affected by the broader economic landscape. Cryptocurrencies like Chainlink (LINK) seem more stable.
According to on-chain data, more and more projects are using Chainlink as it has become more stable in the face of the crypto bear market.
Chainlink investment trend during this period
Data from Glassnode reveals a drop of 665,850 addresses holding cryptocurrencies. Those who already hold coins may sell them to invest in other projects.
The number of these addresses has been steadily decreasing since January. LINK ranks as the 23rd most valuable coin by market capitalization. LINK coin price is down 87.36% from All-Time High (ATH), down 0.2% over 30 years. The past day, and over the past 7 days, the price of LINK has increased by more than 17.1%, according to data from CoinGecko.
The trading volume (volume) of LINK is $430 million, and this volume is often used to determine the strength of the network. LINK’s trading volume increased slightly today.
Funding rate of LINK coin is quite trending at 0.01%. This data based on payouts for long and short traders indicates that long traders are more profitable compared to short traders during this period.
The price of the LINK coin may fluctuate further depending on how BTC moves, which may affect the LINK price in the future.
source LINK