Chainlink Price Dips Amid Market Weakness, But Long-Term Potential Remains Strong

The price of Chainlink (LINK) has taken a hit today, falling to $23.85 as broader crypto market weakness continues. Overall market capitalization dropped by 2.69% in the last 24 hours, reaching $3.82 trillion, while trading volume also declined slightly by 4.36%. However, Chainlink’s 24-hour trading volume reached $2.7 billion, indicating continued investor interest despite the pullback. This follows a seven-month high for LINK above $26 on August 18th, fueled by strong on-chain activity according to Santiment. The network saw nearly 9,813 wallets conduct transfers on Sunday and 9,625 new wallets were created on August 18th.