According to the tweet of Glasssnode, more or less 160,000 addresses are holding LINK which is unneglectable at this moment. Various analysts have summarized that, if LINK reign between $4.70 to $5.00, it would be a massive hit for LINK. This record-breaking high wouldn’t be surprised, as the asset has the capacity to rally toward breaking records.
The number of $LINK token holders continues to see a steady increase in 2020.
There are currently more than 160,000 addresses holding LINK – an increase of 100% since the beginning of the year.
— glassnode (@glassnode) June 25, 2020
Putting aside the probability, the reality is that the network is growing continuously and more user adoptions are coming on the way. This sudden increase in the holders holding addresses may represent an opportunity to provoke sideline investors to get back into the markets, which will surely push its price up.
While on the other hand, it should be observed that this global pandemic is evolving and who knows when this would affect the inflow of capital market.
On the other hand, bitcoin also observed its largest flow on the 23rd of June, falling out form $9,700 to the bottom level of $9,281. The journey of bitcoin to reach $10,000 seems impossible for now. But investors and traders are keeping their eyes on its movements as at any time, the king of crypto bitcoin might disturb the momentum of LINK.
Settling the trend on its own, LINK is now expanded its horizons to attract more and more traders for the future betterment. When any crypto-asset surpasses the record high, it becomes speculation for the industry to predict that where the next top of that particular asset would be and this is the same happening for the LINK.
The Rapidly Expanding Network of Chainlink
LINK’s demand is expanding day by day where every crypto in the industry is trying to cease to amaze us but all in vain. Through its proven technology to connect real-world data, Chainlink is offering an opportunity for investors to get back to market as the recently, the demand has up trended to a new high.
According to the index by CoinMarketCap, in the past 24 hours, Chainlink climbed all the way to reach 3.14%. Where other assets are trying their damn hard to hold their position in this pandemic, Chainlink never ceases to amaze us
When analyzed by the Glasssnode, it came to observation that the number of traders and investors holding LINK token is continuously increasing since the start of 2020.
Back in May, where bitcoin was puzzling the investors with its changing positions on the graph, LINK observed an all-time high by reaching a $4.95 in its value. This popularity of link is attracting more and more business investors and traders to invest and hold this digital asset.