Chainlink (LINK) Daily New Addresses Surge as Exchange Reserves Plummet

Chainlink (LINK) Daily New Addresses Surge as Exchange Reserves Plummet

Chainlink (LINK) continues to show huge promise in 2021, as key metrics released by Santiment on March 21, 2021, points out that the total number of daily new LINK addresses has maintained its high rate this year, while its ratio of supply on centralized exchanges is down by 14.6 percent.

ChainLink (LINK) Aiming for the Moon 

As the global crypto market continues the bull run that began in late 2020, with bitcoin and a good number of altcoins generating massive gains for hodlers, Chainlink (LINK) has emerged as one of the winners so far.

According to data released by Santiment, a cryptocurrency behaviour analytics platform, the total number of new Chainlink addresses created on the network has continued to increase since the beginning of the year. The team has also revealed that the ratio of $LINK token supply on centralized exchanges has crashed to an impressive 14.6 percent, a level last witnessed in July 2019.

What’s more, data available on the Santiment platform also points out that since the completion of the ChainLink initial coin offering (ICO) in September 2017, when it offered $LINK to investors at the rate of $0.11 per token or 0.000385 ETH, the digital currency has generated an ROI of 321.30 percent for its early adopters.

ChainLink Predicted to Keep Rising 

At the time of filing this report, ChainLink is the 10th-largest distributed ledger technology (DLT) platform in the world.

The price of Chainlink (LINK) is hovering around $28.98, with a market capitalization of $12.52 billion. However, some ChainLink “Marines,” as hodlers of the altcoin call themselves, have predicted that the launch of LINK staking which may go live before the end of this year, will send the price of the token to the moon.

While ChainLink’s on-chain metrics remain quite impressive, the project has also gained its fair share of adoption in recent times and the trend is expected to continue, as ChainLink keeps delivering on its promises of providing accurate real-world data to smart contracts.

As reported by BTCManager on March 17, 2021, Grayscale, a leading cryptocurrency investment platform with over $30 billion in assets under management (AUM), unveiled trust for ChainLink (LINK) and a few altcoins, including Brave’s Basic Attention Token (BAT).

Ogwu Osaemezu Emmanuel

Ogwu Osaemezu Emmanuel is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Emmanuel believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.