Chainlink (LINK) is experiencing its highest level of social media discussion in 2024.
This surge in engagement, combined with a drop in the total number of holders, could signal positive potential if market conditions stabilize in the coming week. Currently priced at $10.22, LINK has dropped 18% since reaching a local high on August 18.
đź”—đź“Š LINK's discussion dominance across social media is officially at its highest level of 2024. Combined with declining total holders, this is generally a bullish signal if markets stabilize this upcoming week. The asset sits at $10.22, a -18% drop since its Aug 18 local top. pic.twitter.com/CNni4rz2Mr
— Santiment (@santimentfeed) September 8, 2024
In recent weeks, LINK has seen a significant rise in social media mentions, surpassing its previous peak in December 2023. However, the number of non-empty LINK wallets has decreased by 1,867 compared to four weeks ago, indicating a possible shift in investor sentiment.
Chainlink Adoption Update
This week has seen notable growth in Chainlink’s integration across various blockchain platforms. A total of eight integrations involving four Chainlink services have been added to seven different chains: Arbitrum, Base, BNB Chain, Ethereum, Polygon, Sonic Labs, and StarkNet. New integrations include Ambit Finance, Borderless, Euler Finance, Jojo Exchange, Sonic, Tadle, and zkLend.
⬡ Chainlink Adoption Update ⬡
This week, there were 8 integrations of 4 #Chainlink services across 7 different chains: @arbitrum, @base, @BNBCHAIN, @ethereum, @0xPolygon, @0xSonicLabs, and @Starknet.
New integrations include @ambitfinance, @b0rder1ess, @eulerfinance,… pic.twitter.com/DABLY5ofCV
— Chainlink (@chainlink) September 8, 2024
These developments highlight Chainlink’s expanding role in the decentralized finance (DeFi) ecosystem. As more projects integrate Chainlink’s services, its influence across multiple blockchains continues to grow, reinforcing its position as a critical player in the space.
Despite the recent price drop and a decrease in wallet numbers, Chainlink’s strong adoption and heightened social media presence suggest a bullish outlook if market trends remain stable. The increased integration across prominent chains reflects ongoing confidence in Chainlink’s technology and its future prospects.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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