Chainlink has surpassed several cryptocurrencies with its impressive market capitalization throughout the course of the past week. The token recorded increases of more than 13% each week while displaying no signs of weakness.LINK had a market value of $3,529,540,526 at the time of publication and was trading at $7.18. Ever since it has risen in the rankings, numerous changes have occurred in the LINK community. Recently, the whales have become more interested in it, which is what could be causing the ongoing price surge.Increase In development activityThe development of Chainlink has accelerated recently due to 11 integrations of three Chainlink services across five different chains: BNB, Ethereum, Phantom, Polygon, and Solana.These alterations in an ecosystem are always a positive sign because they demonstrate the dedication of the network developers to improving it. It’s interesting that this matched the value of LINK.Leveling the Parameters: Is A 10X Surge Possible?LINK’s price had increased from $7 to $9.5 in the first half of August. However, it continued to decline, reaching a local low of about $6.2 at the end of the month. As a result, analysts like Michal van de Poppe claim that the $6–$8 price range where Chainlink has been trading, represents a “lifetime opportunity” for investors.#Chainlink is still between $6-8 as a lifetime opportunity.And yes, that also counts for other projects. They all are.— Michaël van de Poppe (@CryptoMichNL) September 4, 2022 As per finder’s Report, the 4-hour real-time technical analysis, which analyses the pivots, oscillators, and moving averages, also shows that Chainlink is a great buy right now.The average price of Chainlink is expected to reach $77.08 in December 2025, an increase of almost 11 times from the $7.16 price at press time.Another notable prediction made by the same panel was that Chainlink would reach $38.54 by December 2021; Surprisingly, LINK actually achieved that level in November.Analyzing the Entry and Exit Points Chainlink’s valuation increased by 12% over the previous week. However, during that same time, address activity fell. ITB’s data shows that during the past seven days, the number of new addresses joining the network has decreased by 6.44%, while the number of active addresses has decreased by 9%.In other words, when an address actively participates in a successful transaction, it is said to be active. New addresses, in turn, serve as a proxy for the number of recent ecosystem arrivals. According to the rule of thumb, the higher both figures are, the better, as they indicate improved trader/investor engagement. Moreover, the prolonged slump isn’t encouraging and may impede Chainlink’s current uptrend.Was this writing helpful?
