Chainlink (LINK) Token Prices Rose 7.3% to Move Past $26.75. The Cryptocurrency Enters a Major Turnaround.

Santiment data reveals two main positive signs that make traders hopeful about LINK's future. The number of LINK tokens available for exchange has dropped.

Chainlink (CRYPTO: LINK) prices soared on Friday, surging by 7.3% to move past the $26.75 mark, signaling a major turnaround for the cryptocurrency.

The surge has not gone unnoticed by market observers and industry experts, with two key positive signs being highlighted by Santiment data.

The first sign is a drop in the number of LINK tokens available for exchange. Over the last thirty days, there has been a 0.95% reduction in LINK tokens present on exchange platforms.

This metric indicates that token holders are largely maintaining their digital assets. When tokens leave exchange platforms, it usually signifies greater confidence from investors. Tokens typically leave exchanges when owners intend to keep their tokens for an extended period.

Another bullish indicator is the decreasing average age of LINK tokens being held. According to Santiment data, LINK tokens are now 6.3% younger in their respective wallets on average.

This statistic suggests that new investors are buying up LINK tokens in the market. When tokens are younger in their holding periods, it shows that trading activity is increasing.

The age of tokens in the market can help indicate the activity levels of investors, with newer tokens signaling that new investors are entering the market.

Both of these signs point towards the potential for further price appreciation for Chainlink in the coming days or weeks.

The market growth is being signaled by both the decreasing exchange supply and the reduction in the average age of LINK tokens.

What's Next for Chainlink?

When exchange reserves decrease, it usually indicates that investors are keeping their Chainlink for the long haul, which can contribute to market growth.

The token price may increase if there is strong demand against a shrinking supply of sellable assets.

According to the fresh average age of tokens, new buyers are actively entering the market. When fresh investors enter the market, it can contribute to the continued growth of Chainlink.

Although it is difficult to say definitively what will happen next, Chainlink's latest market performance and the market signals are both pointing towards a positive direction.

Those who trade and invest in cryptocurrencies are likely paying more attention to this digital asset once again.

Currently, LINK trades at $25.90, down by 0.23% over the last 24 hours, and up by 28.80% over the past week.