ChainLink (LINK) has been gaining in value since the beginning of January as investors become more active. According to Santiment analysts, targeted activity has reached its highest level since 2021.
The LINK rate strengthened on Friday, January 13, to $6.34.
The altcoin is trading at the highest level since mid-December 2022, its capitalization increased by almost 14% over the week to $3.221 billion.
Throughout 2022, LINK address activity remained weak. The market at that time was dominated by bearish sentiment, and almost all risky assets, including cryptocurrencies, suffered losses.
In early 2023, network activity suddenly increased, at which point the bulls began to push ChainLink up, and already in mid-January, the altcoin reached its highest level since December 16, 2022.
However, the share of profitable LINK addresses is only 14%, while 82% of digital currency holders are still losing money, according to IntoTheBlock data. Most likely, these traders acquired ChainLink in 2021, when the altcoin reached $49.