Chainlink Whale Transactions Spike: Is a Bull Run Brewing?
The number of transactions conducted by whales within the ecosystem of Chainlink (LINK), a decentralized oracle platform, has increased. Based on available statistics, there has been a notable 32.8% spike in large holder transactions over the past 24 hours.
In fiat currency, this is equivalent to about $26.69 million. As these big holders aggressively amass the assets, the development shows the extent of whale activity that has occurred. The ecosystem has seen 1.97 million LINK transactions in the past 24 hours.
Massive LINK Whale Moves Signal Incoming Price Explosion
Chainlink whales have been very active during the past seven days, reaching a seven-day high of 8.65 million LINK. Over the past seven days, 1.5 million LINK transactions have had the lowest volume. Given the volume of activity, it appears that these big holders are anticipating a breakthrough and are aware of a potential price increase. CoinMarketCap data shows that trading volume jumped by a staggering 63.89% to $303.06 million, indicating that regular traders have joined the trend.
Chainlink Approaches Key Resistance
In the meantime, LINK is trading at $13.38, up 0.04% over the previous day. According to market statistics, Chainlink needs to move over the $14–14.60 range in order to see a breakout. Over the past 30 days, this range has been repeatedly rejected when the price has moved closer to the zone, making it a notable resistance point in the past.
Investors should expect a push to $16, another significant resistance level, if LINK breaks through $14.60. A positive recovery in Chainlink’s digital asset market might be confirmed by a breakout above this level.
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