Chainlink (LINK), which has recently been under selling pressure in the cryptocurrency market, continues to expand its investor base despite its weak price performance.
According to recent data shared by the on-chain analytics platform Santiment, there has been a remarkable increase in the number of wallet addresses holding LINK in recent days. The data shows that in the last five days, the number of LINK wallets with a balance above zero has increased by more than 8,000, reaching 892,800.
According to market data, Chainlink’s native token, LINK, is trading at $7.29 at the time of writing. Despite losing approximately 6.84% of its value over the past seven days, investor interest in the project remains high. The increase in the number of wallets, in particular, suggests that some market participants view the current price levels as a long-term investment opportunity.
In on-chain analytics, the number of wallet addresses with balances greater than zero is a closely watched indicator for measuring the adoption level and investor interest of a cryptocurrency. While this increase can stem from new investor inflows as well as existing users distributing their assets across different wallets, the overall picture suggests that activity on the network is strengthening.
Chainlink is considered one of the most important projects in the sector with its decentralized oracle infrastructure that connects blockchain networks with real-world data. Used in many areas such as decentralized finance (DeFi), tokenization, and transferring real-world assets to the blockchain, the project continues to play a critical role in the ecosystem.
Market analysts say that despite the short-term weakness in the LINK price, the steady increase in the number of wallets could be a positive indicator supporting long-term investor confidence. However, experts emphasize that investment decisions should not be based solely on the number of addresses, and that other fundamental indicators such as transaction volume, network usage, and overall market conditions should also be considered.
