Is Chainlink (LINK) Sliding To $9? On-Chain Metrics Expose Weak Network Activity

Chainlink (LINK) is at a crucial level after a sharp 22% retrace from recent local highs, sparking concern among investors and analysts. The recent downturn is compounded by unsettling on-chain data that suggests Chainlinks network activity may weaken, adding to the uncertainty surrounding the asset. This decline in activity, coupled with broader market volatility, has heightened fears of further losses.  Related Reading: Chainlink (LINK) Could Drop To $8 If It Loses Current Support: On-Chain Data Reveals If the current bearish sentiment persists, LINK will likely test the next significant demand level around the lower $9 mark. This level is critical for determining the assets short-term future. A break below could signal deeper declines, while a successful defense might provide a foundation for recovery. Investors are closely watching these developments, as the coming days will be pivotal for Chainlink’s price direction and overall market sentiment. Chainlink Driven By Low Network Activity Chainlink (LINK) has recently faced significant selling pressure driven by more than just market speculation. A decline in network activity also plays a crucial role in the ongoing bearish trend. According to key data from Santiment, the price-Daily Active Addresses (DAA) divergence currently stands at -56.35%. This negative divergence suggests a disconnect between Chainlink’s price and user engagement, signaling potential trouble. The DAA metric is vital for understanding whether network activity supports price movements. Generally, when active addresses, which measure user participation on a blockchain, increase with the price, it indicates strong underlying demand. It can suggest that the cryptocurrency is poised for higher values. On the other hand, if network activity rises while the price declines, it often presents a buying opportunity, signaling that the market may soon reverse. Related Reading: Can Avalanche (AVAX) Reclaim $30? Top Analyst Predicts A Dip Before A Bounce However, the current decrease in DAA for Chainlink paints a less optimistic picture. This drop indicates that user engagement isn’t supporting recent price action, a typically bearish factor. An increase in network activity is essential for LINK to see any meaningful consolidation and potential recovery. Without a corresponding rise in DAA, the cryptocurrency may struggle to break free from its current downtrend. Investors are closely monitoring this metric, as a continued decline in network activity could lead to further downward pressure on Chainlink’s price, possibly pushing it toward lower support levels. LINKs $9 Lifeline Chainlink (LINK) is currently trading at $10.24, following a dip below the August 16 low of $9.92. LINK quickly recovered after briefly touching $9.84, signaling demand at this level. However, despite this bounce, LINK remains below the 4-hour 200 moving average (MA), a critical technical indicator currently at $10.80. Analysts see this MA as a key level, and a successful move above it could indicate a shift in momentum, potentially pushing LINK toward the next resistance at around $11.50. Conversely, if LINK fails to hold its current position and slips further, a deeper correction could drag the price to sub-$9 levels. This would signal continued bearish pressure, with traders and investors closely monitoring the price. LINKs ability to reclaim the 200 MA or break below its recent lows will be crucial in determining its next significant move. Related Reading: Toncoin (TON) Price Action Signals 30% Crash After Losing A Key Level Featured image from Dall-E, chart from TradingView

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Coinbase to add proof of reserves to Bitcoin wrapper cbBTC

Adding proof of reserves will head off concerns about Coinbases perceived lack of transparency.

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Australian lender ANZ partners with Chainlink to explore RWA tokenization

Australia’s second-largest bank, ANZ, has partnered with Chainlink Labs and ADDX to explore tokenized real-world assets, according to a Sept. 30 statement shared with CryptoSlate. The move is part of ANZ’s involvement in the Monetary Authority of Singapore’s (MAS) Project Guardian, which aims to enhance access to tokenized assets in the financial sector. Project Guardian is […]

The post Australian lender ANZ partners with Chainlink to explore RWA tokenization appeared first on CryptoSlate.

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Chainlink Price Stuck Between $9 And $12, LINK Mirrors Broader Market Trends

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Top 10 Cryptocurrencies by Notable Development Activity (Santiment)

Cardano (ADA), Polkadot (DOT), and Internet Computer (ICP) are some of the well-known altcoins making the list.

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Liquid restaking protocol Bedrock adopts Chainlink Proof of Reserve after $2M exploit

Adopting Chainlink Proof of Reserve enhances Bedrock's security and transparency, potentially restoring user trust after the exploit.

The post Liquid restaking protocol Bedrock adopts Chainlink Proof of Reserve after $2M exploit appeared first on Crypto Briefing.

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Chainlink (LINK) Price Prediction: Major Bull Run Ahead?

Chainlink's price is gaining strong upward momentum as its trading volume sees a significant surge.

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Reasons Behind Chainlinks (LINK) Recent Price Breakout, Can it Go Higher?

Chainlink has performed a lot better against Bitcoin, with LINK outperforming the leading crypto asset by 8.8% during its latest surge.

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Chainlink Sees 296% Jump In Large Transactions As Active Addresses Rise 14.7%, Whats Going On?

Chainlink whales are once again on the move in what seems to be a general reawakening. Large transactions on the blockchain network have ballooned recently, alongside a drastic increase in active addresses, hinting at a notable development. Therefore, in this report, we take a look at the significant increase in whale transactions and active addresses, as well as what could have triggered this burst of interest on the previously muted blockchain. Chainlink Whale Volumes Rises 295.93% According to data from the IntoTheBlock website, Chainlink whales are getting active again after a previous drop in activity. This time around, whale transactions consisting of LINK tokens with values of at least $100,000 and above, have seen a notable increase. Related Reading: Bitcoin Prediction: Crypto Pundit Reveals Why $100,000 Is The Nominal Price Level For 2025 On September 22, the number of large Chainlink transactions recorded was only 65, but by September 23, this number had risen to 130. This translates to a 100% increase in the number of transactions. In the same vein, the amount of tokens transacted also surged, but to a larger degree. Data shows that only 1.86 million LINK tokens were moved by Chainlink whales on September 22. However, this figure rose to 7.28 million tokens by September 23. In dollar terms, Chainlink whales moved $20.71 million on September 22 and $82.01 million on September 23. The total growth during this time came out to 295.93%. Daily active addresses also saw a significant increase on the network, although to a lesser degree compared to the whale volumes. Active addresses rose from 1,810 addresses to 2,070 addresses, representing a 14.72% increase. This rise in active addressees, coupled with the increase in whale transactions, suggests that attention is, once again, turning to the Chainlink network. Whats Driving The Recovery? So far, one notable development seems to be the driving force behind the Chainlink recovery and it has to do with the 21.co Bitcoin wrapper. The company announced that it was adopting the Chainlink Proof of Reserves mechanism for its 21BTC token, which is a wrapped version of Bitcoin that was made available on the Solana blockchain in May 2024. Related Reading: Shiba Inu Symmetrical Triangle Pattern Reappears, Why A 200% Rally Is Possible This move was to enable the company ensure completely transparency with 21BTC, while also tapping into the decentralization, programmability, and investor confidence that already exists in the Chainlink Proof of Reserves program. This will span across the 21BTC offering on both the Solana and Ethereum blockchains. As expected, the news was well-received by the community, triggering more active participation from investors. However, it has not had much of an impact on the LINK price, which continues to tread around the $11 level. The altcoins is seeing around 5% gains in the last week, meaning only small gains were recorded as a result of the announcement. Featured image created with Dall.E, chart from Tradingview.com

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Tokenized asset market to hit $10T by 2030: Chainlink report

Despite current crypto market volatility, Chainlink projects rapid growth in tokenized assets, driven by institutional demand and regulatory advancements.

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CHAINLINK PRICE ANALYSIS & PREDICTION (September 25) Link Remains Trap In A Channel As It Increases, Will It Break?

After respecting a channels lower boundary with a sharp bounce last month, Chainlink resurged three weeks ago and sustained pressure near a two-month resistance, where a key breakout is likely to occur soon. The past month has been a relief in the market as bears took a break in selling. […]

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21.cos Bitcoin wrapper to add Chainlink proof of reserve

The integration comes as other Bitcoin wrappers face scrutiny for custody practices. 

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21.co integrates Chainlink to enhance 21BTC transparency via real-time Proof-of-Reserves

21.co, the parent company of asset management firm 21Shares, has integrated Chainlink Proof of Reserve on the Ethereum and Solana mainnet to bolster transparency of its wrapped Bitcoin product, 21BTC, according to a Sept. 23 statement. The company will use Chainlink’s Proof of Reserve through its digital asset platform, Onyx, to automate real-time reserve verification to […]

The post 21.co integrates Chainlink to enhance 21BTC transparency via real-time Proof-of-Reserves appeared first on CryptoSlate.

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Chainlink Unlocks 18.75M $LINK, Sends $208M To Binance Amid Stable Price Action

Recently, Chainlink unlocked 18.75 million $LINK tokens (valued at $215 million) from its non-circulating supply contracts. Of this amount, 18.125 million $LINK ($208 million) was transferred directly to Binance, while 625,000 $LINK ($7.18 million) was sent to a multisig wallet, 0xD50f. This unlock follows Chainlinks established pattern of releasing tokens […]

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Chainlink (LINK) Price Analysis for Today, September 23 LINK Technical Analysis

Chainlink (LINK) has drawn attention due to its regular token unlock events. Despite a recent increase in circulating supply from the 18.75 million LINK tokens [...]

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Chainlink Struggles To Breach $12.38, LINK Faces Challenges in Recovery

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Chainlink and Fireblocks Partner to Enhance Regulated Stablecoin Issuance

Chainlink Lbs nd Firblocks hv formd ky prtnrship tht could spd up th us of rgultd stblcoins. Chainlink, known for its orcl ntwork, nd Firblocks, ldr in digitl sst oprtions, nnouncd thir collbortion on Sptmbr 17th. Thir gol is to giv bnks nd finncil firms scur, complint solution for issuing nd hndling […]

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Chainlinks Sergey Nazarov predicts asset tokenization will transform Web3

Trillions of dollars will flow into Web3 once the details of the Internet of Contracts are worked out.

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Chainlink Signals Deeper Losses: Can Bulls Stage A Comeback?

Chainlink is facing increasing bearish pressure as its price continues to edge lower, signalling a potential move toward the further downside. After a period of consolidation, the bears have regained control, pushing Chainlink closer toward the $9.28 support level.  However, bulls may not be ready to give up just yet. With market sentiment fluctuating, the possibility of a bullish comeback looms on the horizon. By examining key technical indicators and market sentiment, we seek to determine if LINK is poised for a deeper decline or if bullish forces could reverse the current trend and drive the price upward. At the time of writing, Chainlink was trading around $10.59, marking a 0.10% decline over the past day. The cryptocurrencys market capitalization stood at approximately $6.4 billion, while trading volume exceeded $206 million, showing increases of 0.10% and 15.36%, respectively. Current Market Sentiment: Bearish Pressure Mounts On Chainlink On the 4-hour chart, following a successful drop below the $11 mark, LINK has continued to experience negative momentum, dropping toward the 100-day Simple Moving Average (SMA). As the cryptocurrency approaches the 100-day SMA, it could either find temporary support or risk further declines if the bearish momentum continues to intensify. Also, the Relative Strength Index (RSI) on the 4-hour chart, has dropped below the 50% threshold, now sitting at 42%. With the RSI attempting to move deeper into the oversold territory, it shows that bears are gaining control, and an extended decrease could be on the horizon if buying interest does not pick up soon. Related Reading: Is Chainlink (LINK) $12 Breakout Imminent? Data Reveals A Rising Open Interest On the daily chart, Chainlink is currently making a bearish movement, toward the $7.14 trading below the 100-day Simple Moving Average. This movement underscores strong selling pressure and negative market sentiment, signaling a heightened risk of further losses. Lastly, the 1-day RSI reflects increasing pessimistic pressure on LINK, as the indicator has fallen to 47% after briefly crossing above the 50% threshold. This drop highlights mounting selling activity and signals a stronger potential for additional downward movement. Will LINK See A Recovery Or Further Decline? As the cryptocurrency approaches the $9.28 support level, which could spark a potential rebound, technical indicators like the RSI still point to strong selling pressure. If LINK fails to hold this level, a break below could result in persistent declines, potentially testing the $7.14 support level and even lower thresholds. Related Reading: Chainlink (LINK) Could Drop To $8 If It Loses Current Support: On-Chain Data Reveals However, should Chainlink manage to hold above this crucial support level, it could set the stage for a potential upward move toward the $11.10 resistance. A successful breakout through this resistance could ignite a significant rally, paving the way for the price to aim for the next key resistance at $12.44. If bullish momentum continues to build, Chainlink may even reach higher levels, extending the rally beyond current resistance points. Featured image from Medium, chart from Tradingview.com

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Chainlink and Fireblocks Forge Alliance to Revolutionize Stablecoin Issuance

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