Chainlink has dominated as a number one oracle with 1704 integrations of its varied merchandise throughout a number of chains.
Nevertheless, regardless of the numerous integrations and initiatives in its portfolio, Chainlink’s token, LINK, refuses to copy the identical success seen throughout the Chainlink ecosystem.
This yr alone, information from the Chainlink ecosystem reveals that Chainlink has efficiently carried out 399 integrations of its merchandise.
It has accomplished 76 information feeds integrations, 88 VRF integrations, 22 keepers integrations, 11 node integrations, three proof of reserve integrations. And, the community built-in 5 different APIs.
In its newest ‘Adoption Update,’ Chainlink knowledgeable customers that between 8-14 August, it recorded 19 integrations of 5 of its providers throughout seven totally different chains.
LINK, seven and half months later
Buying and selling at $8.62 at press time, the worth of the token has declined by 56% because the starting of the yr.
Now ranked quantity 24, its market capitalization dominance has steadily dropped because the yr began, as per information from Messari.
When the yr began, LINK’s market capitalization represented 0.41% of the whole crypto circulating market capitalization. As of this writing, the token’s dominance stood at 0.357%.
As its value suffered through the bear market within the yr’s first half, LINK’s buying and selling exercise too dropped.
Thus far this yr, buying and selling exercise on the community has dropped by over 85% because the each day excessive of 4 billion logged in buying and selling quantity on 5 January.
Apparently, whereas the worth dropped, the variety of addresses on the LINK community rose.
In keeping with information from Messari, 689,383 addresses presently maintain a distinct quantity of LINK tokens.
Nevertheless, regardless of the expansion within the depend of addresses on the community, energetic addresses declined steadily throughout the similar interval.
With solely 2,220 energetic addresses on the community as of this writing, a 138% decline has been recorded within the energetic addresses on the community because the yr began.
As well as, a big variety of LINK tokens have left exchanges in comparison with those which were despatched this yr.
Subsequently, with a continued decline within the alternate influx of LINK tokens, extra draw back is anticipated for the token’s value.
Regardless of the worth decline, whales that maintain between 10,000 to 10,000,000 LINK have persistently topped their holdings.
Whereas this has occurred, it’s also price noting that the depend of whales holding over $10 million price of LINK tokens has declined steadily because the yr began.
At 91 at press time, the depend for this class of whales has dropped by 30% within the final seven months.