The Supply Signal That Previously Brought a 120 Percent Rise to the Demirbaş Altcoin is Active Again

ChainLink (LINK), the main altcoin of the cryptocurrency market, regained the signal that previously brought a 120% increase.

According to data cited by on-chain analysis platform Santiment, ChainLink may be standing on the verge of a significant rise. The data revealed that Chainlink's supply on exchanges decreased from 23.0% to 21.4% in the last 30 days.

A similar stock market supply decline occurred between September 15 and October 14, 2023. Then, LINK ignited the cryptocurrency bull by rising 123% in a 1-month period.

Chainlink's supply on exchanges decreased from 23.0% to 21.4% in the last 30 days. The last time we saw LINK cryptocurrencies drop at this level on the exchanges was from September 15 to October 14, when the 15th ranked cryptocurrency increased by 123% in the next 4 weeks.

The decrease in ChainLink's supply on exchanges and the large price increases following similar situations in the past could be a positive sign for investors. Such data suggests that LINK could experience a significant rise in the coming weeks.

Given the dynamic and unpredictable nature of cryptocurrency markets, it is important for investors to carefully monitor such signals and adjust their strategies accordingly.

According to CoinGecko data, LINK, which has lost 3% in value in the last 24 hours, is traded at $ 13.82 at the time of writing.