Finding interesting cryptocurrency statistics has become a lot easier over the years. It is crucial to gain insights into different ecosystems before casting any judgment. The number of ChainLink wallet addresses with a balance above 0 has continued to rise as of late, which is very impressive.
The Evolution of LINK Holders
Determining the number of crypto asset holders for a specific token will often indicate whether it is worth paying attention to. Trading coins can provide a lot of liquidity, but it also has a direct impact on said asset’s price. In the case of ChainLink, there are a lot of interesting statistics confirming the network is in a good place.
Looking at the number of holders, things are heading in the right direction. Since its inception, the number of LINK holders has kept increasing. Ongoing growth is crucial for any crypto asset on the market today or in the future. Overall confidence in the project is often correlated to the number of people holding a balance in their wallet.
The number of LINK holders has increased a lot quicker since January 2019. A prominent development, especially given the bearish period all assets went through at the time. Even though this “crypto winter” may not be over yet, investors are more eager to sit on their balance for longer periods of time.
In January of 2020. This trend accelerated even further. A 100% increase in the number of non-zero addresses has been recorded since. That is remarkable, for many different reasons. Over 160,000 Chainlink addresses now hold over 0 LINK.
Coinciding With Other ChainLink Trends
Last week, we covered how ChainLink balances on exchanges kept decreasing. Comparing this to the increase in addresses with a non-zero value, it is obvious there is a correlation here. More money is being pulled off exchanges and kept in compatible wallets.
Looking at the recent LINK price trend, everything seems to be going in the right direction. Decreasing exchange liquidity will often drive prices higher in the process.
ChainLink has shown a desire to hit $5 in recent weeks, but hasn’t succeeded to do so. As more statistics indicate that a higher price remains viable, this momentum can turn bullish in quick succession.
The post ChainLink Notes a 100% Increase in Token Holders Since January 2020 appeared first on CryptoMode.