Chainlink (LINK) Price Enjoy Bullish Momentum: Driven by Real-World Assets?

Chainlink (LINK) price has scored 17% gains over the past week, edging towards reclaiming the $7 on September 19. The Chainlink price uptrend seems to have correlated with the Real World Assets (RWA)’s recent rise to prominence. On-chain analysis explores if this correlation could evolve into a prolonged LINK price rally.

This week, Chainlink’s (LINK) 17% price rally seems to have been propelled by the investors’ switching attention to the Real World Asset (RWA) sector. Several Real World Asset projects typically adopt price feeds and Oracle infrastructure to integrate offline data into their blockchain network. Recently, Beincrypto reported that the RWA sector reached an all-time-high valuation of $3.1 billion.

Will the growing demand for Chainlink feeds and Oracle infrastructure propel LINK price into a sustained price rally?

New Investors are Entering the Chainlink Ecosystem Amid the Real World Assets Rave

Chainlink (LINK) has recorded a significant influx of new users in recent weeks as the Real World Asset projects continue to grow in valuation and traction. On-chain data from Santiment shows that Chainlink recorded 865 new wallet addresses on September 17. Notably, the last time Chainlink Network Growth figures exceeded this was August 16.