In its latest ‘Adoption update’’, the well-known oracle network Chainlink informed its users about a series of integrations of some of its products. These integrations were on display in various chains between July 18 and 24.

According to the provided update, Chainlink registered 11 integrations of three of its services – Chainlink Keepers, Chainlink VRF and Chainlink Price Feeds – across eight different chains. This included Avalanche, BNBChain, Ethereum, Phantom, Harmony, Optimism, polygonand Solana.

A brief overview of the LINK on Holiness revealed some price movement from $7.06 to $7.11 between July 18 and 24. So what else have we seen in the past seven days?

Performance between July 18-24

Over the past week, the altcoin’s price consolidated in a tight range on a daily chart. Over the same period, the alt saw an upward price move from $7.06 to $7.11, growing 1%.

With the meager price increase, LINK registered a significant drop in trading volume during the reporting period. With 352.6 million trading volume recorded on July 24, a drop of 71% was recorded in the 6-day period.

In addition, the market capitalization of the alt fell 4% between July 18 and 24, after falling from $3.29 billion to $3.16 billion.

Source: Santiment

According to data from CoinMarketCap, the price of LINK has fallen by 3% in the last 24 hours after printing.

With declining investor interest, the Relative Strength Index (RSI) was spotted in a downtrend in the 50-neutral region at the time of writing.

Source: TradingView

Performance on the chain

With very low price promotions between July 18 and 24, the number of unique addresses trading with LINK steadily declined during that period.

At 2,193 active addresses registered on July 24, a 31% drop was recorded from the 2,886 active addresses trading the altcoin on July 18.

In addition, the reporting period was marked by a steady decline in the number of new addresses created daily on the LINK network. In addition, alt’s network growth fell by 32% between July 18 and 24.

Source: Santiment

Moreover, despite the sizable number of integrations of the oracle’s services into the above-mentioned chains, LINK saw no social traction.

In the reporting period, social dominance decreased by 19%. The social volume also decreased by 33%. However, development activity on the network grew by 1%.

Source: Santiment





This post Has Chainlink’s [LINK] integrations do not affect price movements

was published first on https://ambcrypto.com/did-chainlinks-link-integrations-fail-to-effect-its-price-moves/

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