CryptoPotato published an opinion article stating that in the past month, Chainlink's LINK token has risen by about 95%, becoming one of the best performing altcoins. Supporting this bullish momentum are some favorable on-chain indicators.
According to the holder profit analysis conducted by Intotheblock, most LINK holders are currently profitable. It is worth noting that during the bear market, more than 70% of holders suffered losses for more than a year. Currently, 56% of LINK holders are in profit, which is comparable to many other top tokens.
Intotheblock's latest findings show that the Chainlink network is showing an optimistic trend in transaction data. Daily transactions have surged 436% compared to the monthly low, showing a positive development trajectory. Chainlink is one of the best performers of the recent bullish momentum, and many people have high hopes for it. In the past 30 days, large holders holding more than 1% of the total supply have accumulated a large amount of LINK, totaling 52,450,813.
Chainlink’s oracle trend is also growing. Recently, Vodafone, a major telecommunications company in Europe and North Africa, formally partnered with Japanese financial group Sumitomo Corporation to leverage Chainlink oracles to facilitate transactions and support a variety of applications, including those related to electric vehicle charging stations and toll roads. The digital platform called Pairpoint aims to establish a framework for vehicles and devices to interact and transact autonomously within the growing Internet of Things (IoT) space. This positive momentum is consistent with broader trends favoring Chainlink’s oracle solutions. In addition, Grayscale’s Chainlink Trust (GLNK) has also experienced significant growth, with its premium reaching 200% compared to the LINK market price last week, highlighting institutional demand for the asset.
