Chainlink

<div class="coinjournal">
 <ul>
 <li dir="ltr">Chainlink (LINK) price has surged more than 23% in the past week.</li>
 <li dir="ltr">On-chain data shows LINK price soared amid whale accumulation.</li>
 <li dir="ltr">Most of the whale accumulation and massive uptake has been on South Korea exchanges Bithumb and Upbit.</li>
 </ul>
 Chainlink (LINK) price traded above $9.75 on Sunday, hitting its highest level since May 2022 amid a positive broader crypto market. The price of LINK was up 13% in the past 24 hours and 23% in the past week at the time of writing.
 But as LINK price eyes a retest of the $10.00 level, analysts looking at on-chain data say traders are likely to benefit if they watch out for whale activity.
 <h2 dir="ltr" id="why-has-link-price-been-soaring">Why has LINK price been soaring?</h2>
 Chainlink, whose oracle network is seeing staggering adoption, including after its Cross-Chain Interoperability Protocol (CCIP) went live, has been one of the top performers in the crypto market amid the latest bullish sentiment.
 According to on-chain analytics and smart money account Lookonchain, the surge in LINK price coincided with whale accumulation and massive uptake on South Korea exchanges Bithumb and Upbit. During the price surge, data indicates the two leading Korean exchanges accumulated 945K LINK, worth about $9 million.
 
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 2/
 We noticed that during the $LINK <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> increase, Korean exchanges #Bithumb and #Upbit accumulated a total of 945K $LINK ($9M).
 The rise in $LINK price has a lot to do with #Bithumb and #Upbit.https://t.co/WSDMxJ1kgbhttps://t.co/S4QxKdnry6 pic.twitter.com/6jOAjRa5iJ
 — Lookonchain (@lookonchain) October 22, 2023
 </blockquote>
 
 Currently, exchanges hold roughly 202.6 million LINK, which represents 20.26% of total supply and is valued at about $1.9 billion. While 37.45 million is currently staked by holders, there are “many giant whales of $LINK,” including one with 81 addresses holding over 11 million tokens and another with 38 addresses holding over 8.35 million LINK tokens.
 <h2 dir="ltr" id="chainlink-price-outlook">Chainlink price outlook</h2>
 As well as the 30-day time frame, Chain<a rel="noopener noreferrer nofollow" title="Link" href="https://thebittimes.com/tag/link.html">Link</a>’s native token is up over the past one<a rel="noopener noreferrer nofollow" title="-year" href="https://thebittimes.com/tag/year.html">-year</a>, with its current <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> a 52-week high. However, while LINK/USD has enjoyed some upside episodes year-to-date, <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s were largely constrained below the $8.60 mark. Chain<a rel="noopener noreferrer nofollow" title="Link" href="https://thebittimes.com/tag/link.html">Link</a> also fell to lows of $4.77 in June this year.
 <div class="fr-img-space-wrap"> <img decoding="async" src="https://cdn.thebittimes.com/images/2023/10/22/0c24356827edf7b7dadac3579a835b77.webp" style="width: 100%" class="fr-fic fr-dib" width="700" height="267">Chainlink price on weekly chart. Source.&nbsp;TradingView 
 On-chain data suggests whales could be looking for some profit deals after aggressive accumulation over the past several weeks. The outlook comes after Chainlink (LINK) whale activity soared to new highs.
 Whale activity was also behind LINK’s surge in July. The latest price spike is likely to attract some downside pressure.
 </div>
 “This whale bought 1.25M $LINK ($9.5M) on-chain at an average price of $7.58 and has made a profit of $2.1M at the current price. Be wary of whales selling $LINK for profit,” Lookonchain posted on X.
 While continued whale accumulation portends possible near-term <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> explosion, its likely the spike to near $10 could come with some sell-off pressure.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/chainlink-price-link-jumps-13-to-hit-1-year-high-tbt67306.html">https://thebittimes.com/chainlink-price-link-jumps-13-to-hit-1-year-high-tbt67306.html</a>

Chainlink price: LINK jumps 13% to hit 1-year high

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