Chainlink network’s development has pushed the altcoin into the ranks of the top four assets by the highest activity, according to crypto intelligence
, Kusama , Cardano , Chainlink , Hedera , Vega Protocol , Status , Cosmos , Internet Computer Protocol and Filecoin . , updates to the blockchain network are likely acting as a catalyst for LINK price. LINK price has been in a downward trend that started on July 20. Among other catalysts, consistent development on the chain has pushed Chainlink toward a recovery.
Other on-chain metrics, like supply on exchanges, track the volume of LINK tokens on centralized exchange platforms. This helps determine the selling pressure on the asset. Supporting the thesis of LINK price recovery, the supply is relatively stable, with no increase in selling pressure on the altcoin. LINK price climbed nearly 4% on Wednesday from Monday’s intraday low of $5.74 to $6.00 on Binance at the time of writing.
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