On a Buying Spree? Number of Chainlink (LINK) HODLers Doubles to 160,000 in 6 Months

It’s been a fruitful year for ChainLink (LINK) and its investors despite the pandemic-induced market downturn in mid-March. The project has not only recorded significant partnerships and developments since the start of 2020 but has also seen a massive boost in the number of crypto traders and investors holding the LINK token.

LINK Holders Surpass 160k In 6 Months

As of January 1st, 2020, the total number of addresses holding ChainLink’s native cryptocurrency was around the 80,000 level. However, barely six months later, the number of addresses with non-zero balance has more than doubled reaching above 160,000, according to data from the blockchain analysis platform Glassnode.

LINK addresses with a non-zero balance. Source: Glassnode

Interestingly, information from the crypto monitoring company Santiment suggests that whale addresses holding a significant amount of LINK are also on the rise, as shown in the charts below. Whale addresses include holders that currently have between 100k and 1 million tokens ($478,000 to $4,780,000).

LINK whale addresses. Source: Santiment

HODLers? Daily Active Address Below 4,500

Despite the steady increase in the number of LINK addresses, network activities reveal that only a small 2.65% of holders are active daily. At the time of writing, daily active addresses on ChainLink were 4246, indicating a 23% decrease over the last three days.

Daily active addresses, LINK. Source: Santiment

This suggests that the majority of LINK addresses are HODLing the token and possibly expecting a significant price boost, in the long run, considering the token’s performance over the last six months.

LINK Trading 170%+ Since January

Looking at the top cryptocurrencies in the market from January, LINK is one of the best-performing assets of 2020. Those who bought the token at the beginning of the year are in profits, despite the March crash.

LINK, which started the new decade with a price of $1.76, traded at an All-Time High (ATH) of $4.94 on March 4th. However, the token crashed to $1.78 during the global market meltdown in mid-March.

Nonetheless, LINK started recovering in April alongside the rest of the crypto market, reigniting traders’ hope in the project. At the time of writing, LINK is the 13th largest cryptocurrency by market cap, trading at an impressive price of $4.71, according to data on CoinGecko.

ChainLink’s Continuous Adoption And Partnerships

Aside from the increased number of holders and market performance, ChainLink is also steadily gaining adoption. Since the start of the year, the project has partnered with other blockchain companies, including Ethereum Classic Labs, Chiliz, QANPlatform, NGRAVE, KNC’s KyberSwap, and more recently, CurioInvest.

The post On a Buying Spree? Number of Chainlink (LINK) HODLers Doubles to 160,000 in 6 Months appeared first on CryptoPotato.


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