In just the past week, #Chainlink whales have purchased approximately 7 million $LINK, worth over $105 million!
— Ali (@ali_charts) December 27, 2023
This substantial buying spree suggests a growing confidence among major players in #LINK. pic.twitter.com/gg6SxGykhD
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Crypto LINK: 17% Jump in 24 Hours, Optimistic Outlook for 2024
Fri 29 Dec 2023 ▪
3
min of reading ▪ by
Getting informed
▪
The price of Chainlink’s crypto LINK has seen a remarkable 17% ascent, driven by intense whale activity. This unprecedented trend is part of a context where altcoins are leading the charge towards 2024.
Chainlink Crypto Whales (LINK): A $105 Million Accumulation in One Week
Since the beginning of December, LINK crypto has been the talk of the town in the altcoin market. Recently, the buying frenzy of Chainlink whales reached new heights. Indeed, these major players have strategically accumulated 7 million LINK tokens in one week, amounting to an impressive value of $105 million.
According to crypto expert Ali Martinez, this intense buying activity represents more than just token accumulation. It marks a vote of confidence of an unprecedented magnitude from the principal actors within the Chainlink crypto ecosystem.
This strong accumulation coincides with the consolidation of the LINK crypto’s price above $14. This signals a promising period for this cryptocurrency.
LINK Crypto: A Reaccumulation Above $17 in Anticipation of Future Growth
Chainlink’s (LINK) technical chart reveals a significant reaccumulation period. The crypto maintains its position above the $17 mark. Such price stability paves the way for optimistic outlooks.
For instance, analyst Ali Martinez suggests a potential rise towards $25 by 2024. Another expert points to substantial growth potential if the $17 level is sustained.
Growing Adoption Despite a Temporary Development Pause
On-chain metrics confirm the robustness of the Chainlink network despite a dip in development activity in December (probably due to the holiday season). However, data from Santiment reveals a notable increase in active addresses between September and mid-November.
Social volume and transaction volume remain strong. The NVT ratio, meanwhile, indicates a potential undervaluation of LINK crypto. This reinforces the thesis of solid community adoption!
Today, Chainlink (LINK) is undeniably positioned as a force to be closely monitored in the crypto landscape.
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Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.