Anyone familiar with cryptocurrencies knows how Chainlink has monopolized its field. Now, it’s back in the spotlight. The post Chainlink (LINK): An Overview of Recent Developments appeared first on COINTURK NEWS.
Chainlink (LINK) Review
Therefore, as long as CCIP and tokenization of assets remain on the agenda, it is likely that the price will continue to rise.
LINK Coin Price Prediction
On-chain data indicates that whales have been active following recent events. On May 31st, Chainlink had only seen 26 whale transactions. Since then, whales have gradually increased their trading activities, reaching 238 transactions as of the June 20th closing. This represents a significant increase of 815% in whale trading activity.
As seen above, the significant increase in whale transactions over a two-month period for Chainlink indicates several reasons for the uptrend. Firstly, institutional investors are investing in Chainlink in preparation for Bitcoin ETF approvals, triggering demand for information flow between the DeFi and TradFi sectors.
There has also been a notable increase in trading volume. The increased whale activity and trading volume indicate growth in the underlying value of the Chainlink network. This could potentially drive LINK price to new highs in 2023 in the coming weeks.
The factors outlined above indicate that LINK will likely reclaim the $10 milestone. However, bulls face significant resistance at the $9.50 level.