The reception of Chainlink among crypto enthusiasts has been positive. The ecosystem\u2019s transaction volume has surpassed $6 trillion, according to the project\u2019s official Twitter account. Because of this rise, the number of native integrations in the ecosystem rose from 12 to 15.<\/p>\n
At this point, it appears that Chainlink may be en route to the proverbial\u00a0moon. Shouldn\u2019t a price increase coincide with improved metrics? No, not quite. The on-chain stats for LINK don\u2019t look good, according to the statistics provided by Santiment.<\/p>\n
Chainlink Market Cap Down<\/p>\n
As of this writing, there has been significantly less progress made on the LINK chain than in previous months. The value of Chainlink\u2019s stock on the market is likewise much lower.<\/p>\n
The market cap for LINK<\/a> on October 2 was $284,961,375, a decline of 78.06% from its all-time high of $1,299,905,978\u00a0on September 29,\u00a0data from\u00a0CoinGecko show.<\/p>\n A downward trend may be forming. However, at this\u00a0time, Chainlink\u2019s price is quite volatile on the\u00a0intraday and 4-hour time frames.<\/p>\n LINK\u2019s historical volatility is rather high, ranging between 64.75 and 50.27, indicating that its\u00a0price frequently fluctuates between ranges.<\/p>\n The Stoch RSI figures are also falling, although the relative strength index of the coin is quite constant.<\/p>\n Although the coin\u2019s performance indicates a downward trend, LINK HODLers may still have reason for optimism.<\/p>\n Chart: TradingView.com<\/a> According to statistics from CryptoQuant, LINK exchange reserves are currently below average. This may suggest that the coin is not undergoing a significant selling pressure.<\/p>\n This is depicted on the graphs as a price increase. As of the time of writing, LINK is up 2.26 percent on a 4-hour scale.<\/p>\n The price of the coin fluctuates between $7,026 and $6,574. These two support levels are significant, as any breach by the bears might cause a sell-off that pushes the price below $6.<\/p>\n The chart also reveals a head-and-shoulders shape, which can act as a development impediment. However, as of this writing, the token has broken through and is on an intraday and 4-hour upswing.<\/p>\n Considering the current report for the third quarter of 2022, this could indicate a rise in investor confidence.<\/p>\n As the ecosystem continues to flourish, LINK holders should anticipate more good news in the coming days.<\/p>\n\n LINK total market cap at $3.5 billion on the daily chart | Source: TradingView.com<\/a><\/p>\n Featured image from Pixabay, chart from TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n The reception of Chainlink among crypto enthusiasts has been positive. The ecosystem\u2019s transaction volume has surpassed $6 trillion, according to the project\u2019s official Twitter account. Because of this rise, the number of native integrations in the ecosystem rose from 12 to 15.<\/p>\n At this point, it appears that Chainlink may be en route to the proverbial\u00a0moon. Shouldn\u2019t a price increase coincide with improved metrics? No, not quite. The on-chain stats for LINK don\u2019t look good, according to the statistics provided by Santiment.<\/p>\n Chainlink Market Cap Down<\/p>\n As of this writing, there has been significantly less progress made on the LINK chain than in previous months. The value of Chainlink\u2019s stock on the market is likewise much lower.<\/p>\n The market cap for LINK<\/a> on October 2 was $284,961,375, a decline of 78.06% from its all-time high of $1,299,905,978\u00a0on September 29,\u00a0data from\u00a0CoinGecko show.<\/p>\n A downward trend may be forming. However, at this\u00a0time, Chainlink\u2019s price is quite volatile on the\u00a0intraday and 4-hour time frames.<\/p>\n LINK\u2019s historical volatility is rather high, ranging between 64.75 and 50.27, indicating that its\u00a0price frequently fluctuates between ranges.<\/p>\n The Stoch RSI figures are also falling, although the relative strength index of the coin is quite constant.<\/p>\n Although the coin\u2019s performance indicates a downward trend, LINK HODLers may still have reason for optimism.<\/p>\n Chart: TradingView.com<\/a> According to statistics from CryptoQuant, LINK exchange reserves are currently below average. This may suggest that the coin is not undergoing a significant selling pressure.<\/p>\n This is depicted on the graphs as a price increase. As of the time of writing, LINK is up 2.26 percent on a 4-hour scale.<\/p>\n The price of the coin fluctuates between $7,026 and $6,574. These two support levels are significant, as any breach by the bears might cause a sell-off that pushes the price below $6.<\/p>\n The chart also reveals a head-and-shoulders shape, which can act as a development impediment. However, as of this writing, the token has broken through and is on an intraday and 4-hour upswing.<\/p>\n Considering the current report for the third quarter of 2022, this could indicate a rise in investor confidence.<\/p>\n As the ecosystem continues to flourish, LINK holders should anticipate more good news in the coming days.<\/p>\n LINK total market cap at $3.5 billion on the daily chart | Source: TradingView.com<\/a><\/p>\n
\nLINK Investor Confidence Up<\/p>\n
\nLINK Investor Confidence Up<\/p>\n