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Chainlink wallets hit highest since 2022 despite weak LINK price under $8

Protocol Fundamentals
09 Jun 2026
Crypto news
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Neutral
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Chainlink's wallet count holding at least one LINK reached 535,000, the highest since December 2022, signaling growing user participation despite the token's price weakness. LINK trades below key short-term moving averages at around $7.86, with resistance at $8.03 and $8.78, limiting momentum. ETF inflows and rising derivatives open interest support demand, but weak money flow and bearish momentum indicators suggest selling pressure remains. For a bullish breakout, LINK needs to close above $8.03 with stronger capital inflows to target higher resistance levels near $9 and $10.

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