Chainlink (LINK), the Ethereum-based decentralized oracle network, has seen a price boom 📈 on strong on-chain activity and rising investor confidence. According to Santiment’s analysis, LINK’s technical indicators suggest that the price rally could continue, and the long-term outlook is positive.

The community sees Chainlink as an innovative player in the altcoin market, and the social media narrative is also quite enthusiastic. LINK is ranked 14th in terms of market cap and has gained 10.2% in recent days.

While whale transactions and large investor interest are increasing, on-chain data shows that wallets holding large amounts of LINK are aggressively accumulating tokens. However, LINK’s short-term and long-term market cap and realized value ratios are in negative territory, indicating further growth potential.

Santiment warned that investors should be careful, noting that it could slip into risky territory in the short term.