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Chainlink (LINK) has seen quite a bit of activity and popularity recently. The coin managed to climb to the 5th spot on the list of largest cryptos by market cap, reaching a m.cap of $5.46 billion. In less than a month, the coin’s price went from $7.32 to $20.30.

Now, a research team at Santiment Feed managed to identify another major breakthrough, this time concerning Chainlink’s active addresses.

According to the recent statement, LINK has recently hit a new ATH in terms of active daily addresses. The network reached this new record last Friday, August 21st. Coincidentally, this happened at the time when LINK’s price started seeing a brief correction as a consequence of a strong selloff.

The coin’s price managed to drop to $13.49 before its drop was stopped, and the sentiment once again became bullish in nature. At the time of writing, LINK is back at $15.57, on its way towards a resistance level at $16.

The researchers’ statement says that “$LINK hit an all-time high yesterday in daily active addresses. This came in tandem with an #altcoin decline that sent it down to $13.49. Now back at $16.10, the classic bullish divergence that formed from an ATH in DAA is coming to fruition.”

$LINK hit an all-time high yesterday in daily active addresses. This came in tandem with an #altcoin decline that sent it down to $13.49. Now back at $16.10, the classic bullish divergence that formed from an ATH in DAA is coming to fruition. https://t.co/2XzRVnUZSU pic.twitter.com/PXNRC9t7Qa

This kind of behavior brought a lot of speculation about LINK, such as the theory of a LINK top at the recent high of $20.30. Not only that, but the coin went through a classic ‘Dead Cat Bounce’ over the weekend.

It dropped to $12.85, only to surge again to $16.33, and then drop back again to $14.75, before rising to the current $15.57.

Meanwhile, LINK’s self-proclaimed nemesis, Zeus Capital, continues to claim that the coin will eventually hit $0. The project has been trying to make a point by sharing thoughts of other like-minded individuals on Twitter for the past several days.

The post Chainlink (LINK) hits a new ATH for active daily addresses appeared first on Invezz.

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