• Chainlink [LINK] attracts increased attention with a surge in social volume and development activity.
• Despite positive metrics, Chainlink’s price remains bearish, as indicated by the Relative Strength Index (RSI) line.

According to recent metrics, Chainlink [LINK] has emerged as a subject of increased interest amid the bustling crypto realm. How has this newfound attention influenced its price? Additionally, what factors might be responsible for the surge in attention from the crypto community?

Read Chainlink’s [LINK] price prediction 2023-24

Chainlink sees a surge in social volume

Due to recent developments, Chainlink has recently garnered significant attention from the crypto community. According to data from Santiment, there has been a noticeable surge in the social volume surrounding Chainlink.

Santiment’s report revealed that this spike could be attributed to two key factors: the increasing demand for its oracle services and ongoing initiatives to reduce the operational costs of decentralized oracle networks.

Chainlink operates as a decentralized oracle network and cryptocurrency, primarily connecting smart contracts to real-world data. Establishing this crucial link, Chainlink enables smart contracts to interact with external systems and access off-chain resources. As of this writing, the development activity also surged.

Chainlink’s development activity
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Author: Suzuki Shillsalot

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