Chainlink Market Indicators and Kwil

Kwil joins Chainlink BUILD. Although Chainlink’s NFT ecosystem is growing, market metrics and indicators give mixed signals. Chainlink [LINK] recently announced that Kwil, which is a permissionless database protocol, build, and classification, has joined Chainlink BUILD.

By reaching out to the Chainlink community and supporting technology, Kwil will be able to accelerate the adoption of decentralized data storage systems. Kwil will benefit greatly from BUILD, including access and integration of link services, access to beta and alpha versions of new Chainlink products, and more.

However, this did not help LINK on the price front as it registered a drop of more than 3% in the last 24 hours. According to CoinMarketCap, at the time of writing, LINK is trading at $5.61 with a market capitalization of more than $2.8 billion.

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It Went Well for CAHINLINK

Despite LINK’s performance, Chainlink saw growth in its NFT ecosystem. Data from Santiment revealed that LINK’s total NFT trading volume and total USD NFT trading volume doubled in the past seven days.
This growth can be attributed to the recent integration that took place in Chainlink’s NFT space. Chainlink announced its merger with One Tree on January 4, which may play a role in its recent growth.

Incidentally, not only the NFT space but many other metrics are also supporting the exchange rate for the bond in the coming days. For example, LINK’s development activity increased significantly, which is a positive development. LINK also supported the demand in the industrial market as its Binance currency rate remained high. Nevertheless, according to CryptoQuant, LINK’s FX Reserve is rising, which is running as it represents high selling pressure.

Kwil joins Chainlink BUILD. Although Chainlink’s NFT ecosystem is growing, market metrics and indicators give mixed signals.

LINK recently announced that Kwil, which is a permissionless database protocol, build, and classification, has joined link BUILD. By reaching out to the Chainlink community and supporting technology, Kwil will be able to accelerate the adoption of decentralized data storage systems.

Kwil will benefit greatly from BUILD, including access and integration of LINK services, access to beta and alpha versions of new LINK products, and more. However this did not help connect with the price before, as recorded more than 3% in the last 24 hours. According to the writer, when writing editor, combines links to $ 5.61 and pastema market for more than $ $ 2.8 billion.

This growth can be attributed to the recent integration that took place in Chainlink’s NFT space. Chainlink announced its merger with One Tree on January 4, which may play a role in its recent growth.

Incidentally, not only the NFT space but many other metrics are also supporting the exchange rate for the bond in the coming days. For example, LINK’s development activity increased significantly, which is a positive development. LINK also supported the demand in the industrial market as its Binance currency rate remained high. Nevertheless, according to CryptoQuant, LINK’s FX Reserve is rising, which is running as it represents high selling pressure.

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What Should Investors Expect?

While some metrics are good, most market indicators are bad. LINK’s Relative Strength Index (RSI) recorded a decline and is below the neutral mark, suggesting a price pullback in the market.

The On Balance Volume (OBV) is also low, increasing the risk of a forward crash. MACD gave some relief by placing a critical cross, which indicated that the price could rise.