Chainlink Price Movements: 81 Whales Take Action, Token Rises 20%

Crypto News – Chainlink (LINK) continues to experience a significant rally, with the price up 20% since the low of $5.8 observed on September 12. The significant increase indicates that a strong bull run is in the offing, with large investors, often referred to as whales, buying and selling important amounts of LINK.

Chainlink Price Movements: 81 Whales Take Action, Token Rises 20%

A major improvement is revealed by data from Lookonchain. A total of 81 new wallets were opened on September 15, and on September 18, they started withdrawing LINK from the well-known exchange Binance. In total, 4.7 million LINK tokens worth a total of $31.58 million have been successfully withdrawn from these wallets.

Chainlink’s price has risen beyond the critical $6.50 barrier level thanks to the recent upswing. A fresh support level is building at $6.62, despite the fact that the token is now experiencing a correction.

CCIP may be the Reason for the Price Increase in LINK

But now that it has been rejected from the supply zone at $7.05., Chainlink is at a critical crossroads. Chainlink Cross-Chain Interoperability Protocol (CCIP), a ground-breaking innovation that provides Web3 developers with a secure and frictionless interface for building applications that can function across several blockchains, is to thank for the recent increase in the price of LINK.