Chainlink active addresses jump almost 15x in just one day. Here’s what the data shows:
- Data from CryptoQuant, an analytics platform that provides on-chain information, show exponential growth of the active addresses. On December 21, 2022, Chainlink registered a total of 47,955 active addresses which is 14x higher than the previous day of 3,274. The last ATH was seen last March 03, 2021, with a reported data of 23,426 addresses which is 50% lower than the current high.
- Chainlink is a decentralized oracle network. Oracles in blockchain act as middleware that provides external data to smart contracts. These data can be stock prices or even election results.
- According to a tweet by CryptoQuant, active sending addresses hit an ATH of 46,148. On contrary, active receiving addresses show no notable increase. Which led them to the conclusion that “this kind of behavior usually occurs when multiple addresses deposit to central exchanges.”.
- Earlier, Binance announced that it will be moving assets as part of its housekeeping. These assets are $XRP and $LINK which are collateral for Binance-pegged tokens. Exchange Depositing Transaction, Exchange Total Inflow, and Exchange Reserve data of Binance concerning Chainlink shows significant growth.
See Related: Chainlink (LINK) Bullish Run Stalls Near The Critical Resistance At $6.83
