What is LINK's near-term potential? (on-chain analysis)
Quick takeaways:
- A number of LINK’s social and on-chain metrics give a cautiously optimistic outlook about the coin’s near term price potential - but there's a catch
- Assets covered: LINK
- Metrics used: Social volume, Crowd sentiment, Daily addresses, Daily deposits, Exchange inflow, 365-day dormant circulation, Mean coin age, 365-day MVRV, Holder distribution
It’s been a choppy bit of price action for Chainlink’s native token (LINK), which see-sawed through the past 30 days on its way above $10, and currently sits at -8% for the day.
The LINK token has bottomed out at $7.5 during a market-wide crash on September 23rd before bouncing back on a dime. After charting a higher low on October 8th, it is now once again trading above $11 for the first time in nearly a month:
Throughout these ebbs
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