What Chainlink [LINK] traders should know before cutting losses

ambcrypto.com:

Chainlink’s 7-day performance was commendable as it considerably outperformed most of the cryptos with higher market capitalization. The token registered more than 13% weekly gains with no red on its chart.

At press time, LINK was trading at $7.18 with a market cap of $3,529,540,526. While LINK continued to grow on its chart, several developments happened in its community. Whales’ interest in LINK has been growing of late. This might have fueled the consistent surge in price. 

During the last week, Chainlink’s development skyrocketed as there were 11 integrations of three Chainlink services across five different chains, namely, BNB, Ethereum, Phantom, Polygon, and Solana.

Such developments in an ecosystem are always a positive signal as they reflect the efforts of the developers to improve a network. Interestingly, LINK’s price corresponded to this. 

This week, there were 11 integrations of 3 #Chainlink services across 5 different chains: #BNBChain, #Ethereum, #Fantom, #Polygon, and #Solana.

Chainlink helps secure the #Web3 ecosystem. pic.twitter.com/uLU0UhN6Ap

— Chainlink (@chainlink) September 4, 2022

Moreover, the surge was also backed by higher volume, which could make the hike more stable. Interestingly, Whalestats’ tweet revealed that LINK was among the most popular tokens that the top 500 ETH whales were holding.

Therefore, it is evident that the investors have faith in the token as they expect it to rise further in the days to come.