Did Chainlink’s [LINK] integrations fail to affect its price moves

in his last ‘adoption update‘, the well-known Oracle network, Chainlink, informed its users of a series of integrations of some of its products. These integrations were seen on various networks between July 18 and 24.

According to the provided update, Chainlink recorded 11 integrations from three of its services – Chainlink Keepers, Chainlink VRF, and Chainlink Price Feeds – across eight different chains. These included avalanche, BNB chain, Ethereal, ghost, Harmony, Optimism, PolygonY Solarium.

A quick review of the LINK at Santimento revealed a price movement from $7.06 to $7.11 between July 18 and July 24. So what else did we see in the last seven days?

Performance between July 18 and 24

In the past week, the altcoin price was found to consolidate in a tight range on a daily chart. Within the same period, the alt exhibited an upward price movement from $7.06 to $7.11, a growth of 1%.

With little price growth, LINK saw a significant drop in its trading volume in the period under review. With 352.6 million recorded in trading volume on July 24, a 71% decline was recorded in the 6-day period.

Additionally, the alt market cap fell 4% between July 18 and July 24, after falling from $3.29 billion to $3.16 billion.

Source: Sentiment

According to data from CoinMarketCap, in the last 24 hours of press time, the price of LINK decreased by 3%.

With investor interest waning, the Relative Strength Index (RSI) was spotted in a downtrend at the neutral 50 region, at the time of writing.

LINKUSD 2022 07 25 07 45 28

Source: TradingView

chain performance

With very low price action between July 18 and July 24, the number of unique addresses trading LINK during that period steadily decreased.

With 2,193 active addresses registered on July 24, this was a 31% decrease from the 2,886 active addresses that traded the altcoin on July 18.

In addition, the period under review was marked by a steady decline in the number of new addresses created daily on the LINK network. Additionally, between July 18 and July 24, alt network growth decreased by 32%.

ChainLink LINK 08.02.09 25 Jul 2022

Source: Sentiment

Also, despite the considerable number of integrations of Oracle services in the aforementioned chains, LINK did not see traction on the social front.

In the period under review, their social dominance fell by 19%. Their social volume also fell 33%. However, development activity on the network experienced 1% growth.

ChainLink LINK 08.01.34 25 Jul 2022

Source: Sentiment