TLDR
New Chainlink addresses have surged to levels not seen since 2022, indicating growing market interest
The asset has seen a 126.19% monthly gain despite recent minor retracement
Large transaction volumes reached 1.98K in the past week, totaling 34.34M LINK ($858.08M)
Average LINK holding period has increased to 1.9 years, suggesting strong investor confidence
Data shows major investors are accumulating despite price consolidation
After posting a monthly gain of 126.19%, Chainlink has entered a consolidation phase, showing a minor 1.29% decline over 24 hours. However, on-chain metrics reveal growing interest from both retail and institutional investors, with new wallet creation reaching levels not seen since 2022.
Data from IntoTheBlock shows that over 4,000 new Chainlink addresses have been created recently, marking a return to activity levels last observed in 2022. This surge in new addresses suggests fresh market participants are entering the ecosystem, potentially preparing for future price movements.
The increase in new addresses coincides with substantial trading activity from large holders. Over the past seven days, large transactions – typically associated with investors holding at least 1% of the supply – reached 1,980 in number, moving 34.34 million LINK tokens valued at $858.08 million.
Recent transaction data shows a slight cooling in volume to $290.99 million over the last 24 hours, though this remains above historical averages. Market analysts note that such high-volume activity during price consolidation often indicates accumulation by major market participants.
The average holding period for LINK tokens has extended to 1.9 years, according to the Average Time Token is Held metric. This duration suggests investors are increasingly viewing LINK as a long-term investment rather than a trading vehicle.
Transaction patterns show that LINK tokens typically remain inactive in wallets for nearly two years before being moved. This behavior pattern aligns with long-term investment strategies rather than short-term trading approaches.
Chainlink Price on CoinGecko
Large transaction volumes have maintained steady levels despite recent price consolidation. Market observers note that sustained high-volume trading during sideways price movement often precedes directional moves.
The creation of new addresses has shown consistent growth throughout the recent consolidation period. This metric is particularly notable as it indicates continued market interest even as prices stabilize.
Institutional activity, as measured by large transactions, has remained robust. The seven-day period saw nearly 2,000 large transactions, suggesting continued engagement from well-capitalized market participants.
Trading volumes have shown resilience despite the recent price retracement. The maintenance of high trading volumes during consolidation periods often indicates healthy market activity.
The ratio of new addresses to inactive addresses has shifted toward new creation, suggesting fresh capital may be entering the market. This metric often serves as a leading indicator of potential price movements.
Technical analysis shows the price consolidation occurring at higher levels than previous trading ranges. This pattern suggests the market is establishing new support levels after the recent upward move.
Transaction sizes have maintained their average levels during the consolidation period, indicating that both retail and institutional participation remains balanced. This balance often contributes to more stable price action.
Market depth data shows maintained liquidity levels despite the price retracement. Healthy liquidity during consolidation periods often indicates market stability.
The most recent data shows continued new address creation, maintaining the trend observed throughout the period. As of press time, the rate of new address creation remains above the 30-day average.
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