Leading blockchain oracle provider Chainlink (LINK) is potentially sending bullish signals, according to cryptocurrency analytics firm Santiment.
Santiment said LINK saw “large quantities” of old coins being moved from wallets on Tuesday.
explain company,
“Big old coin movements usually lead to big price movements, and this happened on September 15th, sending LINK price up +31% over the next two weeks.”
LINK is trading at $14.48 at the time of this writing.
Chain link too ranking is high According to Santiment, it is included in the list of cryptocurrency projects in terms of development activities. The decentralized oracle network has recorded 349.87 GitHub commits in the past 30 days, the sixth highest among cryptocurrency projects.
Interoperability blockchain Polkadot (DOT) and canary test network Kusama (KSM) topped the list with 551.7 commits each. Ethereum (ETH) competitor Cardano (ADA) ranked third with 515.37, and Hedera (HBAR), a P2P payment network, ranked fourth with 394.9, a mobile browser and messenger designed to interact with Ethereum. In Status (SNT) ranked 4th. Base applications are ranked 5th with 350.8.
Santiment has previously said that the heavy development activity around cryptocurrency projects is a positive sign that developers believe the protocol will be successful or will release new features soon. This also means that it is unlikely that the project is simply an ‘exit scam’.
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