Chainlink joins altcoin rally with 66% growth in two months
While the cryptocurrency market has been continuously rallying for several weeks, “old players” are getting attention from investors and traders. Previously, Litecoin surprised the market with a 40% pump, and now Chainlink breaks its two-month high with the support of a growing number of holders.
According to on-chain data, more than 158.9 thousand addresses have now been holding LINK for more than a year. Usually, on-chain data services track the total number of wallets and their growth rates, but in this case, only wallets with coins for more than a year were counted.
By looking at the number of long-term holders, investors are able to determine the overall sentiment on the market toward specified cryptocurrencies.
The average duration held by the portfolios mentioned is currently 3.8 years. In total, those wallet addresses hold 691 million LINK coins. In the last 30 days, the number of wallets has increased by 3%.
Currently, the majority of Chainlink holders remain “In the Money”, which means their holdings are unrealized profits. Only 9% of holders are “In the Money,” or simply just opened their positions and are breaking even.
At time of printing, LINK is trading at $ 36 with daily growth of 6.5%. Additionally, Chainlink has been moving up for the last 50 days, which resulted in 66% total growth.
