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LINK crypto attracts the attention of an Ethereum whale

Mon 25 Sep 2023 ▪ 3 min of reading ▪ by Luc Jose A.
Getting informed ▪ Payment

LINK, the cryptocurrency of Chainlink, is gaining more attention. Recent developments around the asset seem to have strengthened its appeal, pushing investors to take positions in the crypto.

A whale and the Chainlink logo, whose native crypto has attracted the attention of a whale.

In brief:

  • An Ethereum whale invests $4 million in LINK, resulting in a 7% increase in the asset’s value.
  • Increased on-chain activity and the price surge of LINK are boosting investor optimism.
  • Analyst Rootlashbin predicts a significant increase in LINK, potentially reaching $13 by the end of the year.

Chainlink’s selection by Australia for tokenization appears to have enhanced the appeal of LINK, its native cryptocurrency. The asset’s relevance is so apparent that a large Ethereum (ETH) investor has committed to it.

Information shows that this investor spent $4 million to acquire LINK tokens. In total, 28 million LINK tokens were acquired and subsequently transferred to the Binance exchange. This unexpected transaction has naturally drawn the community’s attention.

Speculations about the potential for this asset’s price explosion are rife within the community, and for good reason. This surprise transaction has undoubtedly affected the valuation of Chainlink’s native cryptocurrency.

The price of LINK quickly surged by 7% following this operation. It has since partially eroded, with the asset’s valuation being affected by the adverse effects of Bitcoin’s drop to around $26,000. The question remains whether LINK remains promising enough to soar.

Chainlink’s On-Chain Activity Growth Continues

The LINK cryptocurrency has been on an upward trajectory for several days. Analysts predict a sustained rise in the asset’s price until early October. They expect the crypto to evolve without experiencing any significant corrections.

What investors have observed since September 18 is a significant increase in on-chain activity. This surge is primarily related to the impressive rise in the price of this altcoin, which is trading at around $7.23, up 9.81% in the past week.

Crypto analyst Rootlashbin believes that LINK will undergo a correction and a consolidation period after recently reaching around $9. However, the asset is expected to experience a strong recovery in November.

According to this perspective, Rootlashbin sees Chainlink’s LINK experiencing an increase of nearly 100% from its current range. The crypto could then reach levels of around $13 by the end of the year. Stay tuned.

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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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.