Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Chainlink News: Whale Accumulation Signals Bullish Momentum for LINK

Share This Post

The post Chainlink News: Whale Accumulation Signals Bullish Momentum for LINK appeared first on Coinpedia Fintech News

Chainlink (LINK) recently experienced its first weekly drop in a month, as the crypto market took a bloodbath after a strong rally. This dip is in line with other altcoins like Ethereum and Cardano, which also saw some retreat. Despite this short-term correction, many analysts believe LINK is poised for a strong rebound. Some even predict that it could eventually hit $100 during this bull run, signaling potential for significant growth. Let’s see if Chainlink is the best coin to accumulate in this altcoin season. 

In an X post, Santiment highlighted that LINK surpassed $29 for the first time in 37 months, which has caught the attention of crypto investors. This surge is largely due to heavy accumulation by large investors, often referred to as “whales” and “sharks”—wallets holding over 100K LINK. In just the past two months, these investors have added a total of 5.69 million LINK tokens. On the flip side, smaller traders holding less than 100K LINK have sold off 5.67 million LINK tokens. 

Historically, when large investors accumulate coins from smaller traders who might panic-sell, it often leads to a rise in the asset’s market value. However, the future success of Chainlink depends on Bitcoin’s performance. If Bitcoin stays stable, there’s optimism that those who hold LINK for the long term may be rewarded.

Despite recent price fluctuations, analysts remain optimistic about Chainlink’s future. Popular crypto analyst WSB Trader Rocko, known for his accurate market predictions, maintains his view that LINK is still on track to reach $100 in the current bull run. If this prediction holds, it would mean a 354% increase from its current price level of $22.65. Rocko points to Chainlink’s expanding partnerships with major firms such as Coinbase, Swift, and Citi as key factors in its long-term success.

Chainlink’s involvement with major organizations like Swift, which handles over $150 trillion annually, is also seen as a significant catalyst. An analyst following the project suggests that Chainlink’s integration into Swift’s network could propel its market cap beyond $500 billion in the long run.

On the technical side, Chainlink’s price chart shows strong bullish signals, with a “Cup and Handle” pattern forming. This pattern, which indicates a potential price increase, suggests that LINK could target $40.80. Once this level is surpassed, the next milestone will be to break its all-time high of $52.90, setting the stage for its eventual rise to $100.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Former SafeMoon CEO Braden Karony convicted on all charges in $200M crypto fraud scheme

A federal jury convicted former SafeMoon Braden John Karony on all charges in a crypto fraud scheme that siphoned millions from investors under false promises of decentralized finance security The

CME Group Bets Big On XRP—Institutional Demand Is Surging

CME Group’s quiet confidence in XRP has crystallized into a fully fledged commitment: the derivatives giant now treats the token as a core building-block of its digital-asset strategy Speaking on

Ethereum Holds Above Key Prices – Data Points To $2,900 Level As Bullish Trigger

Ethereum is at a critical juncture as it approaches the $2,700 level, widely viewed as the next key resistance that bulls must overcome to confirm a bullish setup This comes as Bitcoin broke above

Compass Mining, Synota Redirect Bitcoin Hashrate to Fund Energy and Healthcare Initiatives

Compass Mining has partnered with Synota’s “Impact Mining” initiative to redirect a portion of bitcoin mining revenue toward subsidizing energy costs for healthcare and education projects in

Kraken to Offer Tokenized Stock Trading for Non-US Users via Solana and Backed

Crypto exchange Kraken is preparing to launch tokenized stock trading for non-US users, a move aimed at expanding retail and institutional access to US equities in digital form The upcoming offering

Indicators show retail remains sidelined as Bitcoin trades at new highs

Despite Bitcoin (BTC) reaching a new all-time high at $111,96580 on May 22, retail adoption and on-chain gauges indicate speculative leverage has not stretched market conditions VanEck head of