The value of Chainlink (LINK) has increased by 23% over the past seven days.
On the night of Monday, May 20, the LINK exchange rate strengthened to $16.5. During the day, trading volume rose to $496.6 million and capitalization reached $9.696 billion.
Increased addressable activity led to the cryptocurrency’s growth, Santiment analysts emphasized.
At the end of last week, the number of active LINK addresses reached 5,096 – the highest since April 8. Then the daily number of wallets involved in transactions exceeded 6,000.
Santiment recorded an increase in whale activity at the beginning of last month.
In five weeks, the volume of the cryptocurrency, which is controlled by addresses with a balance of at least 100,000 LINK, increased by almost 5% to 564.
The inflow of capital into Chainlink is seen against the backdrop of the digital currency developers’ participation in the Smart NAV real asset tokenization project. It is initiated by the Depository Trust and Clearing Corporation (DTCC).
DTCC’s press office said the LINK development team is participating in the launch of a mechanism to place traditional assets on the blockchain.
Institutional interest in Chainlink is growing, evidenced by the increased interest in the cryptocurrency in the futures market.
According to data from platform Coinglass, the amount of outstanding contras reached a one-month high of $248.54 million on Sunday.