#Chainlink (LINK) witnessed a significant increase in its price by approximately 13% over the past week, supported by institutions and whale accounts accumulating the coin, according to the “Lookonchain” platform.
In a post on X on July 2, analysts noted that 54 new wallets had withdrawn 2.08 million LINK worth approximately $30.3 million from Binance over the past seven days.
The two largest whale wallets also moved around $2 million worth of $LINK , contributing to the strong recovery of the coin over the past two days.
Momentum surrounding Chainlink:
LINK prices came under pressure from the market pullback in June, falling to a monthly low of $13 on June 24.
However, the Chainlink ecosystem continues to expand with new integrations.
On June 30, the team reported 12 integrations of six of their services across eight different blockchain networks.
Chainlink also launched its Data Streams product on the Avalanche Network last week.
On July 2, a community member, known as “Don,” noted that the Chainlink platform now has 2,566 integrations.
He added that 165 projects have integrated cross-network interoperability protocols (CCIP).
Additionally, on July 1, analytics platform Santiment reported that Chainlink rose to second place in terms of developer activity.
The platform counted non-excessive activity from the project and averaged this daily activity over the past 30 days, giving #ChainlinkUpdate a score of 526.
LINK is currently trading at $14.36 and the coin has recovered and is up nearly 13% since its last drop in June.
LINK, like most altcoins, has been on a downtrend since the 2024 high of $21.70 recorded in mid-March.
The coin's price is also still down 74% from its all-time high of $52.70 in May 2021.
