The stablecoin ChainLink (LINK) showed good growth dynamics, while Bitcoin and other cryptocurrencies, on the contrary, suffered big losses.
The maximum price was recorded on November 8 at $9,154. Then the rollback resumed, but this week the coin began to add value again.
Over the past 24 hours, ChinLink has gained 3% to $6.66. The capitalization of the digital currency has grown to $6.667 billion.
According to Santiment, the rally was the result of a surge in address activity. In mid-November, when bitcoin was retreating, the number of LINK wallets participating in daily transactions exceeded 8,000.
The last time such activity was observed in May 2021, analysts emphasized. They also hinted at ChainLink’s imminent reset.
According to them, on the eve of the exchange received about 15 million coins. Investors usually send cryptocurrencies to trading platforms for their further sale.
LINK is facing strong resistance ranging from $6.73 to $6.93, according to IntoTheBlock estimates. The altcoin could not break him. Moreover, a strong drop in the exchange rate is possible, because more than 20,000 LINK addresses can start selling, which previously purchased 339 million coins at prices of about $6.8.