According to CryptoPotato, Chainlink (LINK), a token in the real-world asset (RWA) category, has shown higher development activity compared to its competitors. This comes despite a recent decrease in its value. Analysts, however, remain hopeful about a potential significant price rally for this asset in the near future.
Real-world assets (RWA) represent certain physical assets like objects, properties, and others, and function on the blockchain through smart contracts. They have gained popularity recently, with a market capitalization equal to billions of dollars. The market intelligence platform Sentiment reports that Chainlink leads the RWA category with the most development activity recorded in the past 30 days. Chainlink reportedly produces 2.49 times more daily activity than the next most active project, Synthetix. Other projects in the top five include Centrifuge (CFG), Dusk (DUSK), and Orai Chain (ORAI).
Despite a 10% decrease in value over a two-week period, several analysts remain optimistic about LINK's future value. Ali Martinez, a popular user, claimed that the TD (Tom DeMark) Sequential is indicating a buy signal on the Chainlink 12-hour chart. He suggested that LINK's valuation could surge to $15.50 if it maintains above the critical resistance level of $13.87. Michael van de Poppe also expressed a bullish outlook, describing the token as one of the top five altcoins that can generate a 3x increase in BTC with the lowest amount of risk. CryptoWolf included LINK on the list of 'mooners' for the next bull cycle, while SlumDOGE Millionaire argued that it is one of the top 'blue chip' cryptocurrencies at the moment.