Chainlink (LINK) Breaks This 5-Year Record After Robinhood Listing

Blockchain oracle solution Chainlink (CRYPTO: LINK) saw a massive uptick in on-chain activity after being listed on Robinhood Markets Inc (NASDAQ: HOOD).

What Happened: As per data from Benzinga Pro, LINK rallied as much as 11% on June 28 after news of its Robinhood listing.

LINK has since lost most of these gains, but on-chain data from Santiment shows that the cryptocurrency broke a 5-year record on Tuesday.

 #Chainlink saw a mild -4% drop alongside the #altcoin pack. However, one thing stood out... 80.8M cumulative unique $LINK moved addresses Tuesday, breaking a 5-year record. Its opening trading days in September, 2017 were the only time we've seen more. https://t.co/DfBFKRZdMs pic.twitter.com/HMVLXAjrQI

— Santiment (@santimentfeed) June 29, 2022

A whopping 80.8 million LINK tokens were moved on the day – the largest amount since the asset was first listed in September 2017.

See Also: HOW TO BUY CHAINLINK (LINK)

At press time, LINK was trading at $6.40, down 9% from Tuesday’s intra-day high of $7.11. The asset is trading 87% below its all-time high of $52.7 seen in May 2021.
Other major cryptocurrencies were also trading lower over the same period. Bitcoin (CRYPTO: BTC) was trading at $20,294, down 2.07% and Ethereum (CRYPTO: ETH) was trading at $1,146, down 2.91% over 24 hours.

Photo via RCW.studio on Shutterstock