The post Chainlink Surges Over 60% in a Month; LINK Price Reaches New Yearly High appeared first on Coinpedia Fintech News
In the past month, Chainlink’s native coin, LINK, has experienced a remarkable surge of over 60%, hitting an annual high of $12.65. This surge has pushed LINK to levels not seen since April 2022, breaking through significant resistance levels. But why is LINK on the rise?
The entire cryptocurrency market has been on an upward trajectory thanks to the anticipation of a Bitcoin spot exchange-traded fund (ETF). This enthusiasm has spilled over into LINK’s performance, propelling it to new heights.
Rise in Non-Zero Balance Addresses
Data from Glassnode reveals an increase in non-zero balance addresses for LINK tokens. These addresses represent unique LINK holders, indicating growing adoption and a surge in demand for the cryptocurrency. This influx of new investors has significantly contributed to LINK’s soaring price.
To illustrate this point, on November 5, 202
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