Chainlink’s New Addresses Surge to 2,298 as LINK Eyes Price Breakout 

• Chainlink’s new addresses hit 2,298 marking the highest growth in weeks.  
• LINK price holds $17.41 with rising adoption hinting at a potential breakout.  
• Strong network growth signals increasing demand which may fuel LINK’s next rally.

In fact, new address creations for Chainlink soared to 2,298 on February 21, 2025, the highest level seen this January, signaling that the network activity was reviving. There is a steady yet moderate price action with LINK equal to $17.41 as of that day. The uptick in new addresses suggests increased interest in the Chainlink ecosystem, probably a change in investor sentiment. Historically, such spikes in network growth have preceded price rallies-increasing speculation about whether LINK’s next leg upward is on the horizon.

Chainlink’s Network Expansion Signals Growing Demand

The chart sourced from Glassnode reveals a consistent increase in new addresses throughout December and January, with notable peaks surpassing 3,600 new addresses in early December. While activity dipped in early February, the latest surge indicates renewed interest in Chainlink’s utility and adoption. 

The correlation between new wallet growth and price performance has been evident, with past surges in address creation coinciding with price fluctuations between $15 and $20. This pattern suggests that rising participation could act as a catalyst for further market movements.

Price Volatility and Network Activity: What’s Next for LINK?

Despite the spike in new addresses, LINK’s price has been fluctuating over the past months. The token saw multiple rejections after testing the $18 resistance level, showing signs of consolidation. However, increased network engagement could signal growing investor confidence. A continued uptrend in adoption may strengthen LINK’s price stability, potentially enabling a retest of December’s highs. If network activity continues to accelerate, a break above $18 could set the stage for a push toward $20 and beyond.

Across a single day, 2,298 new addresses have been registered, with the data clearly indicating that in recent times Chainlink’s userbase has seen active expansion. The question remains: Will this translate into a sustained uptrend or merely a temporary spike?

In the past, indeed, new address creation has often preceded price breakouts; however, it will be the state of the outside market that will be a crucial factor in determining LINK’s next move from here. If things stay as is, then key resistance levels will likely soon be challenged by LINK, focusing market participants’ attention on the price action.