LINK price rises over the weekend along with other altcoins as LINK dev activity has surpassed that of Ethereum
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Santiment on-chain analytics agency has shared the reason why Chainlink gained almost 17% over the weekend.
The 22-ranked cryptocurrency is now changing hands at $18.65, according to CoinMarketCap.
Chainlink surpasses ETH and BTC by dev activity
According to the recent tweet published by Santiment, Chainlink has surpassed the second largest crypto platform, Ethereum, by development activity; this can be seen by significant updates on Github made recently every day.
According to the chart shared by Santiment, LINK developers have been making 304 major update submissions per day.
The chart also shows that LINK dev activity has been higher not only than that of Ethereum but of Bitcoin as well.
🔗🧑💻 #Chainlink is currently sitting at just under $18 after the mild #altcoin resurgence over the weekend. We notably have seen that $LINK‘s development activity, measured by significant daily #github updates, is now outpacing $ETH‘s daily activity. https://t.co/ZIk3qCUKPZ pic.twitter.com/AEbAUuaQqU
— Santiment (@santimentfeed) February 7, 2022
LINK has been one of the most popular cryptocurrencies recently, along with FTX Token (FTT) and Shiba Inu (SHIB) meme cryptocurrency. Several of these largest ETH whales actively bought LINK in January and at the start of February as well.
At the moment, LINK is down 64.80% from its historic peak of $52.88 reached on May 10, 2021.