Chainlink Market Cap Surpasses $18 Billion with 26.65% Price Surge
The crypto market's capitalization has reached $3.5 trillion, with DeFi tokens exceeding $163 billion. Chainlink #LINK is among the top-performing DeFi tokens, experiencing a 26.65% price increase within the last 24 hours, now trading at $28.73. Avalanche and Uniswap are also climbing in performance rankings.
Dormant Chainlink Whale Returns
Chainlink's bullish recovery has attracted increased whale interest. A significant whale, inactive for 293 days, has re-entered the market, purchasing 93,271 LINK tokens for $2.58 million using 658.14 Ethereum tokens. The tokens were acquired at an average price of $27.71 and subsequently transferred back to the original wallet, which now holds 94,533 LINK tokens valued at $2.62 million. Additionally, this whale possesses 1,991 Ethereum tokens worth $7.79 million, indicating confidence in a potential bull run.
Whale Holdings Surge by $7.04B in 30 Days
Whale holdings of LINK have surged from $12.56 billion on November 11 to $19.6 billion by December 11, reflecting a 42.33% increase in the $1 million to $10 million category and a 69.78% increase in holdings over $10 million. This trend suggests a strong buying momentum among Chainlink whales.
Chainlink Recovery Targets $45
The bullish rally positions Chainlink to potentially reach new all-time highs. Currently, Chainlink’s market cap stands at $18 billion, with a trading volume of $2.54 billion, marking a 37% rise over the last 24 hours. The weekly chart indicates a bullish breakout from a wedge pattern formed during a pullback, showing four consecutive bullish candles in six weeks.
The overall bullish trend reflects a 170% increase since mid-November, with a recent 24-hour high reaching $29.45. The rally has surpassed the 61.80% Fibonacci level at $25.36. Technical indicators show a positive alignment of exponential moving averages and strengthening MACD signals. If the current trend continues, Chainlink prices could approach $45.32 by the end of December, nearing the 78.60% Fibonacci level at $32.50.