The price of Chainlink’s LINK crypto is experiencing a remarkable 17% rise, driven by intense whale activity. This unprecedented trend is part of a context where altcoins are regaining the lead as 2024 approaches.
Crypto whales Chainlink (LINK): An accumulation of $105 million in one week
Since the beginning of December, the LINK crypto has been making waves on the altcoin market. Lately, the buying frenzy for Chainlink whales has reached new heights. Indeed, these major players have strategically accumulated 7 million LINK tokens in a weektotaling an impressive value of $105 million.
According to crypto expert Ali Martinez, this intense buying activity represents much more than a simple accumulation of tokens. She marks a testimony of trust unprecedented from the main players in the Chainlink crypto ecosystem.
This strong accumulation is accompanied by a consolidation of the LINK crypto price above $14. This signals a promising time for this cryptocurrency.
Crypto LINK: A reaccumulation above $17 for future growth
THE technical chart of Chainlink (LINK) reveals a significant reaccumulation period. The crypto maintains its position above $17. This price stability opens the door to optimistic prospects.
For example, analyst Ali Martinez suggests a possible increase towards $25 by 2024. Another expert indicates substantial growth potential if the $17 mark is maintained.
Growing Adoption Despite Temporary Development Pause
On-chain metrics confirm the robustness of the Chainlink network despite a drop in development activity in December (likely attributable to the holiday season). However, Santiment data reveals a notable increase in active addresses between September and mid-November.
Social volume and transaction volume remain robust. The NVT ratio, for its part, demonstrates a potential undervaluation of the LINK crypto. Enough to reinforce the thesis of solid adoption by the community!
Today, Chainlink (LINK) is undeniably positioning itself as a force to watch closely in the crypto landscape.
Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
