Chainlink traders looking to solidify positions should know that LINK…
Chainlink, a widely used oracle network, has recorded tremendous growth in the first half of this year. According to a report on the platform’s performance in the last quarter, Chainlink informed its users that the network grew to support over 1000 decentralized oracle networks and powered over 1350 projects housed across more than 12 different blockchains.
The oracle network stated that it delivered over 3,000,000,000 data points on the chain and served over 7,000,000 randomness requests.
In another tweet on 3 July, Chainlink informed its Twitter Community that in the last week, the network saw 15 integrations of four Chainlink services across six different chains.
Although widely successful in terms of ecosystem updates and integrations in the last quarter, the network’s native coin tells a different story. So let’s take a closer look at how the LINK coin fared within that period.
Between April and June, the price of Chainlink’s native coin reached new lows. Before the cryptocurrency market crisis of April, the coin saw an index price of $16.9. However, as the market downturn deepened in the last quarter, the price of the coin also fell. Ending June with a price of $6.02, the LINK coin saw a 64% decline in just 90 days.
Within that window period, the market capitalization declined from $7.90 billion to $2.82 billion.
Source: Santiment
As per data from CoinMarketCap, the coin exchanged hands at $6.10 at press time, seeing a 0.12% uptick in the last 24 hours. Increased coin distribution was also spotted at the time of writing, with the Relative Strength Index and Money Flow Index marking their respective spots at 41.80 and 30.18.
Source: TradingView
A look at the coin’s on-chain performance showed some interesting movements
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