The number of new Chainlink addresses has been steadily increasing, reaching 1123 from 778 in just a short period. This surge in new entrants is a positive sign for Chainlink’s adoption, potentially driving up demand for the token. The increase in new addresses coincided with Chainlink’s integration with Ethereum, allowing for cross-chain transfers and expanding its network.
With more bridges being built for expansion and interoperability, Chainlink’s ecosystem is seeing growth and potential for more assets to be bridged to other networks. However, despite these positive developments, the price of the token may face some short-term volatility, possibly dropping below $14 due to sell-offs in the market. The imbalance between exchange inflow and outflow signals a bearish bias, with the price dependent on the decisions of sellers and buyers in the market.
As the smart contract supply of Chainlink increases and more bridges are formed with other networks, the potential for growth remains high. The increase in new addresses and integration with Ethereum are positive indicators for Chainlink’s future prospects, but market dynamics and trading decisions will play a crucial role in determining the token’s price in the near term.
