Chainlink Signal Resurfaces: Is Another 31% Rally Coming?
Summary
Chainlink network data reveals that a significant number of old coins, known as "long-term holders" (LTHs) have started transacting, indicated by a spike in the "Age Consumed" metric. This movement of dormant coins was last seen in September, following which Chainlink price rallied by 31%. Also, there has been a surge in whale transactions recently. This activity coincided with the launch of Chainlink staking v0.2 on the Ethereum blockchain, leading to speculation that these LTHs are moving towards the new staking pools. As of now, Chainlink's price shows recovery to around $14.7.
