How Chainlink Has Rallied 20% in September
The Chain LINK [ LINK ] network appears to be breaking away from the broader cryptocurrency market, showing signs of independent growth. During September, this asset witnessed a noteworthy 20% increase in its value. Currently, LINK is trading at $7.26, having experienced a 1.4% daily gain. It’s worth highlighting that the past two weeks have been particularly significant for this asset, as it climbed from a low of $6.53 to reach a peak of $7.30. But what triggered this rally? Numerous factors have contributed to the recent uptrend in this asset. Santiment observed that the level of LINK available on exchanges has been a significant factor. According to the on-chain analytics company, whenever LINK is transferred to exchanges, it has historically triggered positive price movements. Earlier this month, LINK’s supply on exchanges reached a peak for 2023, hitting 17.2%. Furthermore, this supply has now decreased to 16.4%, a development that is generally seen as favorable f...
