Cryptocurrency markets showed renewed weakness in early March, with capital rapidly flowing out of major assets like Bitcoin and Ethereum. Chainlink’s LINK token notably diverged from this trend, recording consecutive days of inflows. Data indicates Chainlink maintained high development activity and a key technical price structure, resisting the broader market’s downward pressure.
Cryptocurrency markets faced another wave of weakness, with fear moving faster than conviction. Between March 5 and 6, money flowed out of major crypto assets like Bitcoin, Ethereum, XRP, and Solana as traders turned cautious.
Chainlink‘s LINK token refused to decline with the broader market, instead attracting capital inflows. This divergence mattered because the asset stood out for its refusal to crack, not due to hype.
According to Santiment, Chainlink ranked third in crypto development activity over the last 30 days. It remained among the few projects showing real building strength while many others merely demanded attention.
On-chain data from SoSoValue reveals LINK recorded inflows of approximately $1.93 million on March 5. The token saw another $935,310 in inflows the following day, contrasting with outflows across other major assets.
Technically, LINK formed an ascending triangle on its price chart with a ceiling at $9.17 and ascending support near $8.30. Momentum indicators like the RSI and MACD showed slight improvement, though bulls lacked full control.
The final summary notes that Chainlink showed unusual strength from high development activity and capital inflows. Analysts state “LINK still needed to defend $8.30 before on-chain strength could fully translate into price action.”
