Decentralized oracle network, Chainlink has seen tremendous growth in terms of usage and adoption since the turn of the year. Aside from several groundbreaking partnerships, the number of investors holding the digital asset has increased massively according to data from analytics site, IntoTheBlock.
Throughout 2020, the Chainlink network has reportedly added 320,800 new addresses this year, representing a 160% increase. The network currently boasts approximately 521,300 addresses, with 172,170 addresses now have a balance in LINK.
The increase in the number of Chainlink addresses is linked directly with the altcoin’s price which exploded to new all-time highs earlier this month.
- On July 15, the price of LINK had touched $8.68, surpassing the previous high of $4.73 set in March. But the altcoin’s value has retraced in the past weeks to $7.17 with a market cap of $2.5 billion.
On its path to the new all-time high, LINK also briefly enjoyed a stint in the top ten list of largest cryptocurrencies by market cap, but currently ranks 12th according to CoinMarketCap.
Meanwhile, it is worth mentioning that the price of Chainlink (LINK) has remained in a good uptrend despite a negative report published by a certain Zeus Capital LLP earlier this month to spread fear, doubt, and uncertainty about the future of the project.
That controversial 56-page long report had labeled “The Chainlink Fraud Exposed” had said that the sheet authors plan to coup in maximum profits from shorting the LINK token below $0.07 within an unspecified period.
However, it appears that the negative report has had little or no impact in the faith that investors have in the project. Within the last 24 hours alone, Chainlink, which also counts Google as one of its high-profile partners, had announced new integrations with a crypto lending platform, Sandbank, and the Colorado Lottery.
Written By M. Willfred, Global News Correspondent, CNIR Staff
