{"id":550512,"date":"2023-09-08T11:10:04","date_gmt":"2023-09-08T11:10:04","guid":{"rendered":"https:\/\/www.wncen.com\/?p=550512"},"modified":"2023-09-08T09:37:01","modified_gmt":"2023-09-08T09:37:01","slug":"link-price-surge-ahead","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/link-price-surge-ahead\/","title":{"rendered":"LINK Price Surge Ahead? Chainlink Sharks Bet Big On Accumulation"},"content":{"rendered":"

Chainlink (LINK) has managed to break through the critical resistance level at $6. This unexpected surge in price can be attributed, in part, to the relentless accumulation of LINK tokens by large wallet investors, known as sharks.\u00a0<\/span><\/p>\n

The trend among these influential players has been particularly pronounced, and it could hold the key to Chainlink’s bullish resurgence.\u00a0<\/span><\/p>\n

On-chain date cited in a <\/span>report<\/span><\/a> has provided valuable insights into this remarkable shift in Chainlink’s fortunes. According to their data, the shark tier of investors has swiftly acquired a staggering $9.6 million worth of LINK tokens within just three days. This surge in demand from these heavyweights is expected to act as a significant catalyst for further upward movement in LINK’s price.<\/span><\/p>\n

Related Reading: BNB Road To Recovery: Can It Thrive Amid Declining Network Engagement?<\/a><\/div>\n

Emergence Of New Shark Wallets: A Bullish Sign For Chainlink?<\/strong><\/h2>\n

Recent data also reveals that 98 new shark wallets have emerged within the Chainlink ecosystem since the start of the week, marking a 3.2% increase. As of Thursday, a total of 3,127 shark wallets were holding between 10,000 and 100,000 LINK tokens. This demonstrates a growing appetite among larger investors for Chainlink, further fueling the cryptocurrency’s recent rally.<\/span><\/p>\n

The current LINK price, as per <\/span>CoinGecko<\/span><\/a>, stands at $6.34, with a slight 0.7% decline in the past 24 hours. However, over the last seven days, LINK has seen a notable 6.4% rally, defying the broader bearish sentiment that has gripped the altcoin market.<\/span><\/p>\n

<\/p>\n

LINK market cap currently at $3.3 billion. Chart: TradingView.com<\/a><\/pre>\n
The accumulation of Chainlink tokens by shark investors has historically served as a powerful indicator for predicting LINK’s price movements. <\/span>Previous instances have shown that when these influential players increase their holdings, it often precedes a substantial uptick in the token’s value. As such, the ongoing accumulation by sharks is a metric worth closely monitoring to gauge the future trajectory of Chainlink’s price.<\/p>\n
Potential For LINK To Break Out Against Bitcoin<\/strong><\/h2>\n
Prominent crypto trader Micha\u00ebl van de Poppe, <\/span>sharing his insights<\/span><\/a> on the social media platform X, suggests that Chainlink might be on the brink of a breakout against Bitcoin (BTC). <\/span><\/p>\n
\n
Would #Chainlink<\/a> still be considered as a buy?<\/p>\n
I know, it sounds boring, but Chainlink is still going sideways and still an investment opportunity.<\/p>\n
Why would that be the case? Wouldn’t you be better off selling the entire bag and just leaving it alone for the coming period? \ud83d\udc47\u2026 pic.twitter.com\/j52Ul93som<\/a><\/p>\n
\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) September 5, 2023<\/a><\/p><\/blockquote>\n
While Chainlink has recently revisited the lower end of its trading range, fluctuating between $7.27 and $5.50, LINK could signal an upward trend if it establishes a higher low price against Bitcoin on the weekly timeframe.<\/span><\/p>\n
Chainlink’s remarkable resilience<\/span><\/a> and ascent above the $6 resistance level, even amidst a broader bearish altcoin market, can be attributed to the strategic accumulation of LINK tokens by large wallet investors.\u00a0<\/span><\/p>\n
Related Reading: Ethereum Price Maze: Will It Soar To $2,000 Or Stay At $1,500 In September?<\/a><\/div>\n
As new shark wallets continue to emerge, and with LINK showing signs of a potential breakout against Bitcoin, the cryptocurrency’s future prospects appear increasingly promising. <\/span><\/p>\n
Investors and traders alike will be watching closely to see if Chainlink can maintain this upward momentum in the face of ongoing market challenges.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from The Daily Hodl<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Chainlink (LINK) has managed to break through the critical resistance level at $6. This unexpected surge in price can be attributed, in part, to the relentless accumulation of LINK tokens by large wallet investors, known as sharks.\u00a0 The trend among these influential players has been particularly pronounced, and it could hold the key to Chainlink’s bullish resurgence.\u00a0 On-chain date cited in a report has provided valuable insights into this remarkable shift in Chainlink’s fortunes. According to their data, the shark tier of investors has swiftly acquired a staggering $9.6 million worth of LINK tokens within just three days. This surge in demand from these heavyweights is expected to act as a significant catalyst for further upward movement in LINK’s price. Related Reading: BNB Road To Recovery: Can It Thrive Amid Declining Network Engagement? Emergence Of New Shark Wallets: A Bullish Sign For Chainlink? Recent data also reveals that 98 new shark wallets have emerged within the Chainlink ecosystem since the start of the week, marking a 3.2% increase. As of Thursday, a total of 3,127 shark wallets were holding between 10,000 and 100,000 LINK tokens. This demonstrates a growing appetite among larger investors for Chainlink, further fueling the cryptocurrency’s recent rally. The current LINK price, as per CoinGecko, stands at $6.34, with a slight 0.7% decline in the past 24 hours. However, over the last seven days, LINK has seen a notable 6.4% rally, defying the broader bearish sentiment that has gripped the altcoin market. LINK market cap currently at $3.3 billion. Chart: TradingView.com The accumulation of Chainlink tokens by shark investors has historically served as a powerful indicator for predicting LINK’s price movements. Previous instances have shown that when these influential players increase their holdings, it often precedes a substantial uptick in the token’s value. As such, the ongoing accumulation by sharks is a metric worth closely monitoring to gauge the future trajectory of Chainlink’s price. Potential For LINK To Break Out Against Bitcoin Prominent crypto trader Micha\u00ebl van de Poppe, sharing his insights on the social media platform X, suggests that Chainlink might be on the brink of a breakout against Bitcoin (BTC). Would #Chainlink still be considered as a buy? I know, it sounds boring, but Chainlink is still going sideways and still an investment opportunity. Why would that be the case? Wouldn’t you be better off selling the entire bag and just leaving it alone for the coming period? \ud83d\udc47\u2026 pic.twitter.com\/j52Ul93som \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) September 5, 2023 While Chainlink has recently revisited the lower end of its trading range, fluctuating between $7.27 and $5.50, LINK could signal an upward trend if it establishes a higher low price against Bitcoin on the weekly timeframe. Chainlink’s remarkable resilience and ascent above the $6 resistance level, even amidst a broader bearish altcoin market, can be attributed to the strategic accumulation of LINK tokens by large wallet investors.\u00a0 Related Reading: Ethereum Price Maze: Will It Soar To $2,000 Or Stay At $1,500 In September? As new shark wallets continue to emerge, and with LINK showing signs of a potential breakout against Bitcoin, the cryptocurrency’s future prospects appear increasingly promising. Investors and traders alike will be watching closely to see if Chainlink can maintain this upward momentum in the face of ongoing market challenges. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from The Daily Hodl<\/p>\n","protected":false},"author":557,"featured_media":550516,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,16295,8686,82825,4735],"class_list":["post-550512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-chainlink","tag-ethusd","tag-link-price","tag-price-action"],"acf":[],"yoast_head":"\nLINK Price Surge Ahead? Chainlink Whales Bet On Accumulation<\/title>\n<meta name=\"description\" content=\"Chainlink (LINK) has managed to break through the critical resistance level at $6. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/www.wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"LINK Price Surge Ahead? 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