- On-chain data shows nearly 9,813 unique addresses completed at least one LINK transfer on Sunday.
- Santiment data shows more than 9,625 new wallets were created on Monday, marking the highest level of 2025 so far.
- Positive sentiment around LINK has reached its highest point in 2025, reflecting strong crowd enthusiasm.
- Chainlink price drives a long-term accumulation trend amid triangle pattern formation.
LINK, the native cryptocurrency of the decentralized oracle network Chainlink, plunged over 7.2% on Tuesday, August 19th. The selling pressure aligns with Bitcoin’s pullback below the $115,000 floor, driving a broader market correction. Chainlink price has shown strong resilience this week amid sustained growth in the on-chain activity and increasing adoption. However, the recent spike in social media hype raises the risk of a potential price correction in the near future.
Chainlink On-Chain Activity Hits 2025 High with Record Wallet Growth
Since last week, the crypto market has witnessed a notable selling pressure, evidenced by Bitcoin’s price pullback from $124,517 to $113,262. Defying the broader market correction, the Chainlink price showed a sharp surge from $21.36 to a $26.76 high, registering a 25% jump, before today’s pullback.
The analytics platform Santiment notes that Chainlink’s on-chain activity appears more impressive than its recent price recovery this week. Last Sunday, nearly 9,813 unique addresses conducted at least one LINK transfer. Meanwhile, over 9,813 different LINK addresses were created on Monday.
These figures represent the highest address activity and wallet growth Chainlink has posted in 2025, suggesting rising adoption and user engagement. If the trend continues, the coin price could gain sufficient momentum for a higher rally.
Chainlink Onchain Activity | Santiment
That said, a recent tweet from market analyst Ali Martinez highlights a potential risk for this asset amid its increasing social media pressure. The chart below highlights that positive sentiment towards Chainlink has surged to the highest level this year, accentuating the crowd support for sustained growth.
However, the past surge in social media hype has coincided with local tops for this altcoin, followed by steep downturns. The data shows that previous peaks in positive sentiment soon meet with price correction, ranging from 37% to 57%, suggesting crowd euphoria can act as a contrarian signal.
LINK’s Social Volume | Santiment
Thus, the Chainlink price could drive a short pullback to regain its exhausted bullish momentum.
Chainlink Price Drives Recovery Within Triangle Pattern
The weekly chart analysis of Chainlink price shows the ongoing recovery as a bull cycle within the formation of a triangle pattern. The chart setup is characterized by two converging trendlines that act as dynamic resistance and support for price, driving a long accumulation zone.
Since November 2021, the coin price has bounced twice from the overhead trendline and at least four times from the bottom trendline, validating its influence on the trend trajectory. However, the broader market pullback and overhead supply at the $27 mark have pushed the LINK price down to $23.83, developing an evening star reversal candle pattern in the daily chart.
With sustained selling, the coin price could plummet over 9.4% to test the 20-day exponential moving average (EMA) at $21.4, followed by a fall toward the $20 psychological level. This brief correction could allow buyers to regain bullish momentum for the next leap.
LINK/USDT – 1d Chart
If Chainlink bulls continue to counter the ongoing market correction, the price could leap 22% to retest the triangle resistance. A bullish breakout from the triangle resistance will signal a major change in LINK’s direction.