Two cryptocurrency whales have acquired a substantial amount of Chainlink (LINK). LINK price soared 15%. On July 20, the traders swapped 3,146 staked ethereum (stETH) and ethereum (ETH) tokens worth $5.72 million to purchase 788,877 Chainlink (LINK) tokens. The two…
Two cryptocurrency whales have acquired a substantial amount of Chainlink (LINK). LINK price soared 15%.
The two whales with wallet addresses 0x8b9 and 0x362 have seemingly acted as one entity to execute a momentous token swap.
This acquisition was carried out at an average price of $7.25 per LINK token. This swap’s scale and strategic timing have sparked intrigue and speculation in the crypto community.
The price of Chainlink (LINK) posted a 15% increase in the past 24 hours, reaching $8.12.
On the weekly timeframe, LINK has experienced a significant surge of 12.9%. The 24-hour trading volume for LINK stands at $1.5 billion, with a circulating supply of 538 million LINK. Chainlink’s market capitalization is $4.3 billion.
According to CryptoFaibik, LINK’s price could experience a significant increase of 260% to 280% in the midterm.
The potential reason for this optimistic forecast is the possibility of a Falling Wedge Breakout. A Falling Wedge pattern is considered a bullish signal and could lead to a price surge if the breakout occurs.
Chainlink enabling cross-chain interoperability
Recent deployments include rate and volatility data feeds, facilitating pricing, trading, and settlement of tokenized assets and on-chain derivatives contracts.