Chainlink (LINK) saw an impressive 11% intraday price surge, climbing back above $13.30, as long-term indicators suggest the asset may be entering a new accumulation phase.
According to Santiment data, the number of non-empty LINK wallets rose by 7,903 over the past month—a 1.05% increase, pushing the total holder count to a record 769,380.
While price action is bullish, a deeper on-chain trend adds to the intrigue. Active wallets over the past year are down 17.3%, a metric analysts say indicates reduced short-term speculation and lower risk for new buyers. In past cycles, such pullbacks in wallet activity have aligned with favorable long-term entry points.
“With LINK’s MVRV still far from overheated levels, the data hints that Chainlink may be in an opportunity zone,” the report states.
Is Chainlink the Dark Horse for a Summer Altseason?
As altcoin watchers speculate on a potential summer altseason, Chainlink’s rising holder base and declining active wallet count suggest patient accumulation rather than hype-fueled trading. This blend of rising network strength and tempered short-term activity has previously foreshadowed major upward moves.
With fundamentals and sentiment aligning, LINK could be a sleeper candidate as capital rotation begins to shift away from Bitcoin’s dominance and into high-utility altcoins.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/chainlink-surges-as-on-chain-data-signals-quiet-altseason-potential/