On-chain data has recently diverged from price trends. Although LINK remains below key resistance levels and is still far from reclaiming the $10 mark, the number of holding addresses continues to rise, indicating that market participation has not declined in tandem with the weaker price.
The number of holding addresses has reached a new high since the end of 2022.
According to Santiment data, the number of addresses holding at least 1 LINK rose to 535,430 in June 2026, the highest level since December 2022. The article notes that this also indicates Chainlink’s holder engagement has reached its highest level in nearly three years.
While the number of addresses has increased, LINK’s price has remained near $7.8, failing to reclaim $10 over the past several months. The coexistence of growing address activity and weak price action suggests that some funds are continuing to hold or accumulate at lower levels rather than exiting.
The infrastructure narrative continues.
In addition to on-chain address growth, the market is also paying attention to Chainlink’s advancements in oracle services, cross-chain communication, and enterprise-grade blockchain applications. The article notes that Chainlink’s Cross-Chain Interoperability Protocol (CCIP) continues to gain adoption among developers and institutions.
The report also noted that certain financial institutions and blockchain protocols continue to integrate Chainlink’s price feeds, settlement layer, and interoperability services, providing ongoing support for LINK’s long-term use cases, despite the token’s weaker short-term price performance.
The market is watching the $7.50 support and $9.00 resistance levels.
From a price performance perspective, after a correction, LINK recently dipped to around $7.50 before rebounding approximately 2%. Whether buying pressure can sustain this level is a key short-term observation.
- The support level is near $7.50.
- The resistance level above is in the range of $8.9 to $9.0.
- If broken, the next target may be the $10.7 to $11.5 range.
However, the article also notes that LINK remains below several key moving averages, and price momentum has not yet significantly recovered. If the current support area is broken, selling pressure could intensify again.
Overall, LINK’s short-term price movement remains fragile, but growth in on-chain holder addresses and expanding ecosystem adoption continue to draw market attention to whether it will shift from consolidation at lower levels toward a clearer rebound.