According to Cointelegraph: Chainlink's native token, LINK, registered a robust rally from February 9th to February 12th, reaching a trade price of $20.85—a level last seen in January 2022. With its market cap reaching $11.67 billion, LINK superseded Dogecoin as the 10th largest cryptocurrency by market cap. The rally is accompanied by a surge in the network’s activity and trading volume.
Data from IntoTheBlock shows an increase in the activity of Chainlink network, with active addresses on the rise from around 2,800 on January 25th to about 3,210 on February 10th. Correspondingly, the number of new Chainlink addresses also increased.
Moreover, Chainlink found use in substantial integrations. Eigenpie declared the integration of Chainlink CCIP across Arbitrum and Ethereum. Paxos announced its adoption of Chainlink’s new PayPal USD price feed. Also, the DeFi-oriented Umami DAO incorporated Chainlink Data Streams on Arbitrum.
However, there may be signs of an imminent pullback. Data analytics platform SpotOnChain reported a notable LINK transfer off Binance by a whale wallet tagged "0x2a1", which could indicate an intent to sell at current rates.
Despite this, LINK might continue an upward trend within the technical boundaries of its ascending channel, projecting a rise towards the upper limit at $21. If this limit is decisively breached, the price could reach $25. Analyst Rekt Capital suggests the likelihood of a retest at the $19 support level before a resumption of the uptrend.
