Chainlink Network Activity Reaches 8-Month Peak Amid Infrastructure Migrations

Chainlink's (LINK) recent price action has been marked by a notable increase in network activity, reaching an 8-month peak on May 9 and 10.

Data from Santiment shows that 282,170 distinct LINK wallet addresses were active on May 9, with another 264,090 active the following day. This represents the strongest network participation levels observed since September 2025.

This surge in engagement is attributed to infrastructure migrations announced by Kelp DAO and Solv Protocol, which have transferred significant amounts of Bitcoin-pegged tokens to Chainlink's Cross-Chain Interoperability Protocol (CCIP) platform.

The transfer of over $700 million worth of tokens has been seen as a major shift in institutional-scale DeFi infrastructure away from LayerZero and toward Chainlink's cross-chain ecosystem. This development demonstrates genuine protocol utilization, rather than speculative noise.