Why Should Investors 'Hodl' Chainlink? Here's the Answer!

<p>&nbsp;"Whoever bought LINK raise your hand."</p><p><br /></p><p>Cryptocurrency Chainlink (LINK) appears to have rallied 13.57% over the past week to break through $8.40, but that success doesn't mean the price has already peaked.</p><p><br /></p><p>This is seen based on the actions of LINK holders and trading activities, where the supply distribution of digital assets from retail investors and whales has been moving flat since June 10, 2023 whereas before that the address balance was declining.</p><p><br /></p><p>However, the remaining addresses that hold empty up to 1 million LINKs have significantly increased their holdings, so the price is able to go higher following the accumulation playing an important role for the positive momentum.</p><p><br /></p><p><br /></p><p>Like to be informed that the active address shrinks while the price of LINK increases but at the same time the accumulation rate increases is one of the clear indicators for the growth of the digital asset network.</p><p><br /></p><p>While the development activity of LINK is found to be increasing and it indicates that the price has the potential to strengthen but it should be known that the increase can also be triggered due to cross-chain updates.</p><p><br /></p><p>In context, LINK that developed the Cross-Chain Interoperability Protocol (CCIP) is intended to create seamless communication between networks and offer access to traditional financial projects.</p><p><br /></p><p>In addition, the number of contributors to developer activity has also increased since the first week of July, so here it can be seen that developers are committed to improving the LINK network through GitHub.</p><p><br /></p><p>As of this writing, the price of LINk has surged by 15.84% at $8.13 in the last 24 hours with a market cap of $4 billion and has gained 12.60% over the past week.</p>