Chainlink witnessed a remarkable surge in its price on Dec. 12, reaching a nearly three-year high. This came as futures open interest spiked to an all-time high of $770.27 million, according to data from Glassnode. LINK’s price climbed to $29.45, continuing its upward trend from levels last seen in January 2022.
Glassnode’s data on December 11 showed that Chainlink’s open interest was far ahead of Toncoin ($259 million) and TRON ($356 million). Despite recent profit-taking in the spot market, mainly by speculative traders, Glassnode suggests bulls remain dominant due to improving fundamentals. Active addresses momentum is rising, with the short-term SMA above the long-term SMA, though still far below 2021 peaks.
Chainlink has seen significant gains, up 13% on the day and 97% over the past week and 30 days. The price rise coincides with key ecosystem partnerships, such as with World Liberty Financial and Emirates NBD Digital Asset Lab, as well as integrations with leading institutions like Swift, SBI, and UBS.
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