Chainlink’s price rallied by more than 70% over the last month. Despite a small dip on the 7th of November, most metrics remained bullish on the token at press time.bulls again entered the market and started to push its price up. The recent uptrend once again gave investors hope of LINK reaching new highs.LINK has been surprising investors for quite a while by registering gains like no others. To be precise, in just the past 30 days, LINK’s value surged by more than 70%.
The gaining spree appeared to have come to an end on the 7th of November 2023, when its chart turned red.At the time of writing, it was trading at $13.44 with a market capitalization of over $7.4 billion, making it the 12th largest crypto. The token’s trading volume increased along with its price. This further gave hope to investors for better days. In fact, Crypto Tony, a popular crypto analyst, revealed in a tweet that he expectsThe broader market also seemed to be confident in the token, which was evident from the latest data. As perrevealed that buying pressure on LINK was dominant in the market. This seemed to be the case, as LINK’s net deposit on exchanges was low compared to the last seven-day average.
Chainlink’s total number of holders also rose over the last week. However, it was interesting to note that despite this,Its network growth was also high, meaning that more new addresses were created to transfer the token. Not only that, but the whales were also highly confident in Chainlink.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry.