Chainlink Price Spikes as Dormant Wallets Reactivate, Boosting Network Activity
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Chainlink's native token LINK saw a price surge, potentially due to previously dormant wallets resuming activity.
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On-chain analytics provider Santiment reported that LINK moved ahead of other altcoins after coins that had been dormant for a long time re-entered circulation.
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This influx of dormant LINK may have contributed to the recent price jump to a 22-month high of $18.
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Chainlink has seen some liquidations of wallets lately, often a sign of uncertainty that can further boost prices.
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Chainlink's real-world asset tokenization momentum has driven recent hype and interest, with the network being an industry leader in this area.