Chainlink Surges 10% Amid Whale Accumulation and Market Rally
Chainlink’s LINK Surges Amid Whale Accumulation
- LINK's price increased by nearly 10% in the last 24 hours, with trading volume doubling.
- 30 wallets have withdrawn 6.25 million LINK tokens since October 11, totaling $116.7 million.
- This marks one of the largest accumulation events since early 2023.
- Analysts note significant whale activity and personal increases in LINK holdings.
Partnerships and Market Dominance
- Chainlink dominates the oracle space, securing 475 protocols with over $62 billion in total value secured (TVS), accounting for 62% of the market.
- Strategic partnerships with Swift and DTCC aim to bridge traditional finance with blockchain.
- Collaboration with the U.S. Department of Commerce to bring government datasets on-chain strengthens Chainlink’s position in real-world asset tokenization.
Price Outlook
- LINK is currently trading around $18.84, with a market cap of $12.75 billion.
- Bollinger Bands indicate rising volatility; a breakout above $20 could confirm bullish momentum.
- RSI at 45 suggests neutral-to-bullish momentum; failing to hold above 40 may trigger profit-taking.
- LINK has broken its bearish trendline on the 4-hour chart; sustained closing above $17.5 might lead to a retest of the $20 zone.
