Overview
- LINK cleared short-term resistance after a technical breakout on August 11 that sent price above the 0.382 Fibonacci level and the 100-day moving average.
- Santiment recorded a five-month high of 246 transfers worth over $100,000 and reported that wallets holding 100,000–10 million LINK now control about 46.57% of circulating supply.
- Artemis data cited by coverage showed a sharp collapse in on-chain activity with transaction count dropping from 5.2 million to roughly 386,600 and active users falling from about 2,700 to 1,000.
- Derivatives trading volume rose about 52% to roughly $524.8 million and open interest climbed about 13%, signaling stronger speculative and hedging flows around LINK.
- Market watchers say a sustained break above $10.87 would validate a broader bullish shift while failure to hold current support levels would leave LINK exposed to a retracement, and analysts note different on-chain providers measure activity in different ways.