Chainlink (LINK) Price Soars as Whales Buy 1.35 Million Tokens
- Whls cquird 1.35M LINK tokns within 24 hours t $19-$20.5 rng.
- Chainlinks CCIP v1.5 upgrd nbls Cross-Chin Tokns (CCTs) on 20+ blockchins.
- LINK trds t $20.42; nlysts prdict brkout to $38.5 from bullish flg pttrn.
Chainlink whls md wvs cross th crypto mrkt with significnt buying spr, cquiring nrly 1.5 million tokns in just 24 hours. This buying ctivity crtd rippl ffct, boosting LINKs pric s trdrs rspondd swiftly to th mrkts rbound.
Crypto nlyst Ali Martinez highlightd this ctivity in n X post, rvling tht 1.35 million LINK tokns wr purchsd by whls. According to Santiment dt, th tokns wr cquird whil LINKs pric fluctutd btwn $19 nd $20.5, rng idntifid s crucil support zon by mrkt prticipnts.
This surg in whl ctivity hs sprkd bullish sntimnts mong invstors, suggsting growing confidnc in Chainlinks potntil. Mny mrkt wtchrs now viw ths dvlopmnts s pivotl in shping LINKs pric trjctory.
Chainlinks Ecosystem Upgrades Boost Sentiment
Th optimism surrounding LINK is lso fuld by rcnt cosystm dvncmnts. Th lunch of CCIP v1.5 on th minnt mrks significnt milston for dvloprs. This upgrd nbls thm to tk tokns cross-chin ffortlssly, dploy Cross-Chin Tokns (CCTs) cross 20+ blockchins within minuts, nd ccss svrl nhncd fturs.
Additionlly, th upgrd is xpnding th rch of Circls bridgd USDC stblcoin stndrd, dding support for mor blockchins. Chainlinks prtnrship with Rippl furthr mplifis its cosystms growth by promoting th RLUSD stblcoin within dcntrlizd finnc (DFi) mrkts.
Ths dvncmnts hv bolstrd LINKs position s promising sst, driving its pric highr. As of now, LINK trds t $20.42, mrking 2% incrs within th lst 24 hours, with intrdy lows nd highs of $19.45 nd $20.63, rspctivly.
Bullish Flag Pattern Indicates LINK Price Surge
Tchnicl indictors lso pint promising pictur for LINK. On Jnury 14, crypto nlyst CW shrd chrt pointing to potntil brkout from bullish flg pttrn. Th nlyst notd tht LINK is nring th convrgnc point of dscnding tringl, with brkout trgt of $38.5. This trjctory could unfold onc LINK surpsss th rsistnc t th uppr lin of th tringl.
Othr nlysts cho this optimism, forcsting LINK to rch trgts of $43, $50, nd vn $100 by 2025. Much of this nthusism stms from Chainlinks strtgic collbortions with firms lik Swift nd Frnklin Tmplton, which r xpctd to furthr driv doption nd pric momntum.
Th rising Opn Intrst (OI) dt lso supports ths bullish outlooks. According to Coinglss, LINKs OI incrsd by 6.65% to $871.80 million, rflcting hightnd mrkt intrst.
Ovrll, th convrgnc of whl ctivity, cosystm upgrds, nd tchnicl indictors pints bullish pictur for LINK. With growing optimism nd robust mrkt prticiption, Chainlink pprs poisd for continud upwrd movmnt in th dys hd.
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Text source: TronWeekly
