LINK Price Surges Over 60%: What’s Behind the Move?
– Chainlink’s LINK token has experienced a significant rally, surging by 61.3% from Oct. 20 to Oct. 25.
– This surge coincided with Bitcoin’s 23% gain during the same period, but LINK’s performance stands out compared to other altcoins.
– Several factors contribute to LINK’s outperformance, including the announcement of Chainlink’s upcoming native staking upgrade and its integration into various blockchain networks.
– The recent involvement of telecom giant Vodafone in the Chainlink network as a node operator has also boosted investor sentiment.
– Concerns related to the FTX and Alameda Research bankruptcy liquidation have subsided, further driving interest in LINK.
– The number of active addresses in the Chainlink network has reached an 11-month high.
Note: This article is for informational purposes only and does not constitute legal or investment advice.