Chainlink beats Ethereum’s development activity but social sentiments…
After a relatively damaging start to the cryptocurrency market’s new year, a recovery could be seen creeping in for many top assets over the past two weeks. This includes the native currency of the decentralized oracle network Chainlink. It shot up over 14% during this time, after losing over a quarter of its valuation in January. LINK has even breached the significant $18 mark, leaving analysts to become bullish on its price action once more.
This resurgence can be attributed to larger market trends. Interestingly, on-chain analytics platform Santiment revealed that an acceleration in development activity on the network has accompanied its price growth. So much so that earlier on 7 February, its significant daily GitHub updates managed to cross that of Ethereum, the network upon which Chainlink is built.
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