Chainlink active addresses reach 8-month high as DeFi protocols migrate $700M in assets
Chainlink's active addresses hit an 8-month high as $700M in DeFi assets moved to CCIP due to security concerns.Summary
Chainlink experienced its busiest period in eight months, with unique active addresses reaching a high of 282,170 on May 9th. This surge is attributed to over $700 million in DeFi assets migrating to Chainlink's Cross-Chain Interoperability Protocol (CCIP) from other cross-chain solutions due to security vulnerabilities. Notably, Solv Protocol moved $700 million in tokenized Bitcoin assets from LayerZero to CCIP following the Kelp DAO incident. This migration, coupled with significant whale accumulation of LINK tokens and tightening exchange liquidity, has driven the LINK token's price up over 15% in a week. Chainlink's CCIP processed $18 billion in cross-chain volume in Q1 2026, a 78% increase, solidifying its position as a dominant infrastructure layer amidst DeFi's security concerns. While this indicates strong fundamental growth, investors should monitor CCIP's Q2 volume to confirm if this is a sustained trend or a one-time migration event.
(Source：Crypto Briefing)