Chainlink (LINK) has retraced 7.6% since reaching a yearly high of $16.7 on November 11. Although prices have encountered strong support around $15, momentum seems to be building for another upward move.

The Chainlink network continues to experience significant growth, and whales appear committed to holding their LINK tokens.

Interest in LINK Remains Elevated

The Chainlink network is growing at an impressive rate. Since early September, the number of new and unique addresses appearing in a transaction for the first time has consistently reached higher highs and higher lows.

The count has increased from as low as 467 new addresses per day to as high as 3,044, representing a 650% increase in three months. Such a significant increase in user adoption over time indicates potential price increases.

This rising demand is also evident in the
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Author: Ali M.

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