Chainlink (LINK) Retests Multi-Month Highs While New Money Enters Network: IntoTheBlock

On-chain analysts IntoTheBlock shared some background on LINK's return to over $16. Here's what LINK Marines have to say

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Chainlink's (LINK) price continues to rise in a multi-week ascending channel, but do its fundamentals look strong? IntoTheBlock shared some insights for "LINK Marines."

New money catalyzed LINK upsurge

According to IntoTheBlock on-chain data vendor, the recent spike of the Chainlink (LINK) price is followed by strong fundamental processes. First, the Chainlink (LINK) network is growing as new non-zero addresses are active.

Chainlink fundamentals are still strong
Image via Twitter

Besides an influx of new addresses, the Chainlink (LINK) network witnesses significant injections of fresh money. IntoTheBlock experts noticed 50 million in "fresh" network liquidity.

Due to the aforementioned processes, at the $15.43 price level, 87 percent of "LINK Marines" are in profit. This community is the most passionate and aggressive "army" of the entire crypto segment. Only the "XRP Army" can compete with them.

It did not take long for "Marines" to express their views on the report published by IntoTheBlock specialists. While the researchers asked whether Marines are back, LINK supporters responded negatively:

We never left. Nothing can stop what is coming.

Chainlink (LINK) almost back to late August levels

On Nov. 24, the price of Chainlink (LINK) surged above $16.23 on major spot platforms. This level is the highest since Sept. 1. Both September and October were merciless to LINK as its price dipped to $7.70 on Sept. 24, losing 70 percent in one month since ATH.

However, the Chainlink (LINK) price started to surge after the bottom was touched. As a result, it added 116 percent from September's low.

Even on its saddest days, the community refused to abandon its beloved asset. As covered by CryptoComes, IntoTheBlock's competitors from Santiment noticed that LINK whales (the 100 richest wallets) are accumulating aggressively since Q3, 2019.

👉 MUST READ Chainlink (LINK) Top Whales Accumulating Despite Pullback, Santiment Data Saysrelated article image

As of Oct. 30, their aggregated riches surpassed 735 million LINK tokens.

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)