{"id":8810,"date":"2024-01-15T13:32:50","date_gmt":"2024-01-15T13:32:50","guid":{"rendered":"https:\/\/newsbuzz24x7.com\/chainlink-prints-mini-breakout-as-rare-on-chain-metric-emerges\/"},"modified":"2024-01-15T13:32:50","modified_gmt":"2024-01-15T13:32:50","slug":"chainlink-prints-mini-breakout-as-rare-on-chain-metric-emerges","status":"publish","type":"post","link":"https:\/\/newsbuzz24x7.com\/chainlink-prints-mini-breakout-as-rare-on-chain-metric-emerges\/","title":{"rendered":"Chainlink Prints Mini Breakout as Rare On-Chain Metric Emerges"},"content":{"rendered":"<p><\/p>\n<div>\n<p><b>Chainlink (LINK) momentarily signaled its tendency for growth after recording a mini breakout, with its price touching $15.83 over the weekend.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Chainlink remains a token of interest in the digital currency ecosystem, considering its role in securing data through its oracles. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">After a relative stalemate in price action over the past three months, LINK grew from $13.51 on January 1 to $15.68 at the time of writing after <\/span><span style=\"font-weight: 400;\">scoring<\/span><span style=\"font-weight: 400;\"> a 3.68% surge in 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According<\/span><span style=\"font-weight: 400;\"> to data from the crypto analytics platform Santiment, Chainlink\u2019s metrics are promising. Santiment noted that the supply of Chainlink on trading platforms is reducing, setting the pace for a supply crunch that might positively impact prices.<\/span><\/p>\n<figure style=\"width: 900px\" class=\"wp-caption alignnone\"><img fetchpriority=\"high\" decoding=\"async\" alt=\"\" width=\"900\" height=\"581\" src=\"https:\/\/pbs.twimg.com\/media\/GD3WzEtb0AA-kUi?format=jpg&amp;name=900x900\"\/><noscript><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GD3WzEtb0AA-kUi?format=jpg&amp;name=900x900\" alt=\"\" width=\"900\" height=\"581\"\/><\/noscript><figcaption class=\"wp-caption-text\">Image source: https:\/\/twitter.com\/santimentfeed\/status\/1746790708688916693<\/figcaption><\/figure>\n<h2>Chainlink On-Chain Insights<\/h2>\n<p><span style=\"font-weight: 400;\">Per the Santiment data, the percentage of LINK\u2019s supply on exchanges has fallen below 15% for the first time in 4 years. Besides this, the amount of wallets with more than 0 LINK as their balance has also grown, drawing close to the All-Time High (ATH) figure.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In actual figures, the number of wallets with non-zero balances comes to 713,560. While this figure is lower than the ATH recorded around December 2022, it is the highest figure recorded to date since January 2023.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ratio of LINK on exchanges has been recording sharp swings since at least late 2022, with the lowest levels since February 2020 ushered in this year. This metric is bullish, as it shows investors are safeguarding their LINK in cold wallets or got them locked in the protocol\u2019s <\/span><span style=\"font-weight: 400;\">upgraded staking protocol<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span class=\"td-adspot-title\">&#8211; Advertisement &#8211;<\/span><\/p>\n<h2>Chainlink to $20, Is It Feasible?<\/h2>\n<p><span style=\"font-weight: 400;\">Chainlink is considered an undervalued token, seeing it maintains dominance over all other oracle networks in the industry.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The current metrics might <\/span><span style=\"font-weight: 400;\">further catalyze a bullish surge<\/span><span style=\"font-weight: 400;\"> in price if sustained over the long term. The move to $20 is speculative but not impossible. <\/span><\/p>\n<p>Chainlink will need at least a 26% growth from the current price to retest $20, a feat that will mark its best performance since at least January 2020. With LINK\u2019s promising outlook, time will tell how well its price will turn out to be.<\/p>\n<div class=\"td-a-ad id_bottom_ad \"><span class=\"td-adspot-title\"\/><\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline; color: #000000; background-color: #ffffff;\"><strong>Follow Us<\/strong> on Twitter and Facebook.<\/span><\/p>\n<p style=\"text-align: left;\"><strong>Disclaimer<\/strong>: This content is informational and should not be considered financial advice. The views expressed in this article may include the author&#8217;s personal opinions and do not reflect The Crypto Basic\u2019s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.<\/p>\n<p style=\"text-align: center;\">-Advertisement-<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n#Chainlink #Prints #Mini #Breakout #Rare #OnChain #Metric #Emerges<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink (LINK) momentarily signaled its tendency for growth after recording a mini breakout, with its price touching $15.83 over the weekend. Chainlink remains a token of interest in the digital currency ecosystem, considering its role in securing data through its oracles. After a relative stalemate in price action over the past three months, LINK grew&#8230;<\/p>\n","protected":false},"author":1,"featured_media":6650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-8810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news"],"_links":{"self":[{"href":"https:\/\/newsbuzz24x7.com\/wp-json\/wp\/v2\/posts\/8810"}],"collection":[{"href":"https:\/\/newsbuzz24x7.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsbuzz24x7.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsbuzz24x7.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsbuzz24x7.com\/wp-json\/wp\/v2\/comments?post=8810"}],"version-history":[{"count":0,"href":"https:\/\/newsbuzz24x7.com\/wp-json\/wp\/v2\/posts\/8810\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsbuzz24x7.com\/wp-json\/wp\/v2\/media\/6650"}],"wp:attachment":[{"href":"https:\/\/newsbuzz24x7.com\/wp-json\/wp\/v2\/media?parent=8810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsbuzz24x7.com\/wp-json\/wp\/v2\/categories?post=8810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsbuzz24x7.com\/wp-json\/wp\/v2\/tags?post=8810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}