TLDR
- Network sees highest level of new address creation since late 2022
- Monthly performance shows 126.19% gain amid broader market strength
- Whale activity reaches 1.98K transactions worth $858.08M in past week
- Token holding duration stretches to nearly 2 years on average
- Large investors accumulating during price consolidation phase
Chainlink’s network metrics have reached notable levels in December, with new address creation touching highs not seen since late 2022. The surge in activity comes as the token posts a 126.19% monthly gain, though prices have entered a consolidation phase with a modest 1.29% decline over recent hours.
On-chain data reveals more than 4,000 new Chainlink addresses have been created recently. This uptick in new addresses represents a return to activity levels last recorded during the latter part of 2022, pointing to renewed market interest in the protocol.
Large-scale network activity has shown particular strength, with whale transactions – defined as moves by holders of 1% or more of supply – reaching 1,980 separate transfers over seven days. These movements involved 34.34 million LINK tokens, carrying a total value of $858.08 million.
Recent data shows daily transaction volume settling at $290.99 million, representing a natural cooling from peak activity while maintaining levels well above historical norms. Analysts note this sustained volume during price consolidation often indicates systematic accumulation patterns.
The network’s Average Time Token is Held metric has reached 1.9 years, showing increasing commitment from token holders. This extended holding duration suggests a shift toward longer-term investment approaches among network participants.
Detailed analysis of holding patterns reveals LINK tokens typically remain stationary for nearly 24 months before changing addresses. This behavior marks a departure from historical patterns when shorter holding periods were more common.
Transaction metrics show sustained high-volume activity despite recent price stabilization. Market participants note that maintained transaction levels during consolidation often precede new price discovery phases.
Network growth statistics indicate steady expansion through the recent consolidation period. The continuous creation of new addresses suggests ongoing adoption despite price fluctuations.
Institutional engagement remains evident through sustained large transaction counts. The weekly total of nearly 2,000 high-value transfers indicates continued participation from well-capitalized entities.
Trading activity has maintained robust levels through the consolidation phase. The persistence of elevated volumes during sideways price action often signals healthy market dynamics.
Address creation versus dormancy rates show a positive balance toward new participants. This metric frequently serves as an advance indicator of potential market direction.
Price analysis indicates consolidation occurring at elevated levels compared to previous ranges. This pattern suggests the establishment of new support zones following recent appreciation.
Transaction size distribution has remained consistent during the consolidation period. The balance between retail and institutional activity often contributes to market stability.
Market liquidity indicators show maintained depth despite recent price movements. Stable liquidity during consolidation phases typically indicates market health.
The latest network data continues to show elevated address creation rates. Current figures remain above the 30-day moving average, extending the growth trend observed throughout the period.
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