Chainlink (LINK) Social Volume Reaches New High, Here's What It Signals

Chainlink's social volume has reached all-time highs, according to on-chain analytics firm Santiment. Earlier in the week, Chainlink put out a tweet on its proof-of-reserve advantages.

Santiment notes that there has been a big uptick in social volume for Chainlink on Twitter, shortly after the tweet was made. The blockchain analytics firm noted that the increased crowd interest may have a positive price impact.

''Chainlink's (LINK) social volume blasts to record highs. Just shortly after chainlink put out this post about its Proof of Reserve advantages, there has been a big uptick in social volume about the asset on Twitter." "Currently sitting right at $7, the increased crowd interest may have a positive price impact," Santiment analysts wrote. At the time of publication, LINK was marginally down in the last 24 hours at $7.04.

Following the implosion of FTX, more users across the industry began demanding proof of reserves. Chainlink's proof of reserve has been used by stablecoins, wrapped tokens and blockchain bridges to increase transparency on the reserves underlying new on-chain assets.

Read more on U.Today https://u.today/chainlink-link-social-volume-reaches-new-high-heres-what-it-signals

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