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Chainlink (<a href="https://crypto.news/price/chainlink/">LINK</a>) has recorded significant gains over the past 24 hours. The recent surge has triggered a massive rise in the asset’s whale activity. 
LINK is up by 5.8% in the past 24 hours and is trading at $14.72 at the time of writing. The asset’s market cap rose to $8.2 billion. However, Chainlink’s daily trading volume registered a 1.7% decline, dropping to around $570 million. 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2023/11/ChainLink-on-Ethereum-LINK-12.41.54-29-Nov-2023-1024x347.png" alt="LINK price increases 5.8%, whale activity follows - 23" class="wp-image-14221500">
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 LINK price, whale activity, open interest and Binance funding rate – Nov. 29 | Source: <a href="https://app.santiment.net/charts/C01O_hNu__sCl" target="_blank" rel="noopener">Santiment</a>
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According to data provided by the market intelligence platform Santiment, whale transactions consisting of at least $100,000 worth of LINK rallied by 1,145% over the past day — rising from 176 transactions on Nov. 28 to 2,198 transactions at the time of writing. 
 You might also like: <a href="https://crypto.news/coinbase-ceo-thinks-binance-settlement-is-good-for-crypto/"> Coinbase CEO thinks Binance settlement is good for crypto </a> 
When the whale activity of an asset grows fast, higher volatility is usually expected.&nbsp; 
Moreover, Santiment data shows that LINK’s total open interest (OI) registered a small surge over the past 24 hours — rising from $211.5 million to $213.1 million in a day.&nbsp; 
Per the market intelligence platform, <a href="https://crypto.news/arta-partners-with-chainlink-labs-to-forge-new-compliant-cross-chain-investment-tokens/">Chainlink</a>’s Binance funding rate currently stands at 0.01%, showing a slight domination of long traders until further movements. A rise in the amount of short trades could potentially make the price bounce. 
On the other hand, LINK’s price-daily active addresses (DAA) divergence is hovering at negative 4%. When the price DAA divergence falls below the zero mark, a sell signal is automatically triggered since the asset’s price might witness sudden movements due to high whale activity. 
On Nov. 17, the popular AI platform ChatGPT <a href="https://crypto.news/chaingpt-integrates-chainlink-to-unlock-cross-chain-crypto-hub/">announced the integration of Chainlink CCIP</a>. Per the report, the upgrade would improve the cross-chain interoperability between Ethereum and Polygon and allow users to buy and sell prompts.&nbsp; 
 Read more: <a href="https://crypto.news/changpeng-zhao-resigns-as-chair-of-binance-us/"> Changpeng Zhao resigns as chair of Binance.US </a>

LINK price increases 5.8%, whale activity follows

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