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<a href="https://bitcoinworld.co.in/here-is-why-chainlink-link-and-maker-mkr-are-stirring-up-investor-interest/" title="Here Is Why Chainlink (LINK) And Maker (MKR) Are Stirring Up Investor Interest" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400;" aria-level="1">Chainlink (LINK) and Maker (MKR) are stirring up investor interest as fresh wallets have started to accumulate LINK and MKR in hopes of a price uptick.</li> 
 <li style="font-weight: 400;" aria-level="1">LINK was up by 12% in the last 24 hours, but a few market indicators were bearish.&nbsp;</li> 
 <li style="font-weight: 400;" aria-level="1">MKR’s market indicators looked bullish, as they suggested a price rise.&nbsp;</li> 
</ul> 
As we enter the concluding days of 2023, several tokens, such as Chainlink [LINK] and Maker [MKR], are witnessing newfound interest, as several new wallets started to accumulate those tokens. 
Whenever accumulation rises, it increases the possibility of a price uptick. Therefore, considering the latest interest from investors, are LINK and MKR on the brink of a new rally? 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/bitcoin-sv-bsv-price-soars-63-in-24-hours-hits-ytd-high/" aria-label="“Bitcoin SV (BSV) Price Soars 63% In 24 hours, Hits YTD High” (Edit)">Bitcoin SV (BSV) Price Soars 63% In 24 hours, Hits YTD High</a> 
<h3 id="span-style-font-weight-400-buying-pressure-on-chainlink-and-maker-rises-span">Buying Pressure On Chainlink And Maker Rises</h3> 
On the 27th of December, <a href="https://twitter.com/lookonchain/status/1739936502820511870?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1739936502820511870%7Ctwgr%5E9c091a3dd4cdeb1eeaf436ea733029c88dcdf998%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fambcrypto.com%2Flink-and-mkr-stir-investor-interest-heres-why%2F">Lookonchain</a> recently posted a tweet, which highlighted that fresh wallets have started to accumulate LINK and MKR. 
Notably, whale wallet 0xE68E withdrew 3,150 MKR worth more than $4.5 million, while another wallet withdrew 136,146 MKR worth over $2 million.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Fresh whale wallets are accumulating <a href="https://twitter.com/search?q=%24MKR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MKR</a> and <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> today. 
 0xE68E withdrew 3,150 <a href="https://twitter.com/search?q=%24MKR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MKR</a>($4.55M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> in the past 20 minutes.<a href="https://t.co/LRuLN0j4Ia">https://t.co/LRuLN0j4Ia</a> 
 0x8eAD withdrew 136,146 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>($2.05M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> 10 minutes ago and has withdrawn 384,006 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> ($5.79M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a>… <a href="https://t.co/fjCp1lo0Nx">pic.twitter.com/fjCp1lo0Nx</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1739936502820511870?ref_src=twsrc%5Etfw">December 27, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Therefore, to better understand whether investors at large were buying these tokens, let’s take a look at Santiment’s data. As per our analysis, LINK’s Supply on Exchanges registered a drop while its Supply outside of Exchanges increased. 
Surprisingly, despite a hike in buying pressure, Chainlink’s supply held by the top addresses remained flat. 
<figure id="attachment_60772" aria-describedby="caption-attachment-60772" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-60772 size-medium" src="https://bitcoinworld.co.in/wp-content/uploads/Chainlink-Buying-Pressure-720x244.png" alt="" width="720" height="244" srcset="https://bitcoinworld.co.in/wp-content/uploads/Chainlink-Buying-Pressure-720x244.png 720w, https://bitcoinworld.co.in/wp-content/uploads/Chainlink-Buying-Pressure-1080x365.png 1080w, https://bitcoinworld.co.in/wp-content/uploads/Chainlink-Buying-Pressure-1440x487.png 1440w, https://bitcoinworld.co.in/wp-content/uploads/Chainlink-Buying-Pressure-768x260.png 768w, https://bitcoinworld.co.in/wp-content/uploads/Chainlink-Buying-Pressure-1536x520.png 1536w, https://bitcoinworld.co.in/wp-content/uploads/Chainlink-Buying-Pressure.png 2048w" sizes="(max-width: 720px) 100vw, 720px">
 <figcaption id="caption-attachment-60772" class="wp-caption-text">
 Chainlink (LINK) Buying Pressure
 </figcaption>
</figure> 
&nbsp; 
A similar trend was visible on Maker’s graph. An analysis revealed that MKR’s Supply on Exchanges registered a massive drop on the 27th of December while its Supply outside of Exchanges surged considerably. 
This meant that investors were actively buying MKR at press time. 
<figure id="attachment_60771" aria-describedby="caption-attachment-60771" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-60771 size-medium" src="https://bitcoinworld.co.in/wp-content/uploads/Maker-Buying-Pressure-720x244.png" alt="" width="720" height="244" srcset="https://bitcoinworld.co.in/wp-content/uploads/Maker-Buying-Pressure-720x244.png 720w, https://bitcoinworld.co.in/wp-content/uploads/Maker-Buying-Pressure-1080x365.png 1080w, https://bitcoinworld.co.in/wp-content/uploads/Maker-Buying-Pressure-1440x487.png 1440w, https://bitcoinworld.co.in/wp-content/uploads/Maker-Buying-Pressure-768x260.png 768w, https://bitcoinworld.co.in/wp-content/uploads/Maker-Buying-Pressure-1536x520.png 1536w, https://bitcoinworld.co.in/wp-content/uploads/Maker-Buying-Pressure.png 2048w" sizes="(max-width: 720px) 100vw, 720px">
 <figcaption id="caption-attachment-60771" class="wp-caption-text">
 Maker (MKR) Buying Pressure
 </figcaption>
</figure> 
&nbsp; 
Additionally, whales’ confidence in the token also increased, which was evident from the rise in its supply held by top addresses. However, the graph registered a decline soon after that.&nbsp; 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/how-to-prevent-transaction-fees-from-eating-into-your-crypto-trading-profits/" aria-label="“How To Prevent Transaction Fees From Eating Into Your Crypto Trading Profits” (Edit)">How To Prevent Transaction Fees From Eating Into Your Crypto Trading Profits</a> 
<h3 id="span-style-font-weight-400-will-the-coins-have-a-positive-impact-span">Will The Coins Have A Positive Impact?</h3> 
To better understand whether the hike in buying pressure would have any positive impact on both tokens’ price actions, let’s take a look at their daily charts. 
Our analysis found that Chainlink’s MACD displayed a bullish crossover. Additionally, its Bollinger Bands also hinted that LINK’s price was entering a comparatively volatile zone, which looked bullish. 
However, its Relative Strength Index (RSI) and Chaikin Money Flow (CMF) registered downticks, implying that a price drop is on the cards. In the last 24 hours, LINK was up over 12% and, at press time, was <a href="https://coinstats.app/coins/chainlink/">trading</a> at $15.95. 
<figure id="attachment_60796" aria-describedby="caption-attachment-60796" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-60796" src="https://bitcoinworld.co.in/wp-content/uploads/Chainlink-Price-Chart-4-483x300.png" alt="" width="613" height="381" srcset="https://bitcoinworld.co.in/wp-content/uploads/Chainlink-Price-Chart-4-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/Chainlink-Price-Chart-4.png 760w" sizes="(max-width: 613px) 100vw, 613px">
 <figcaption id="caption-attachment-60796" class="wp-caption-text">
 Chainlink Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
Like LINK, MKR’s MACD also displayed a clear bullish upper hand in the market, and its Bollinger Bands also looked optimistic. MKR’s CMF and RSI also went northwards, increasing the chances of a price uptick. 
According to Coinstats, MKR was up by 2% in the last 24 hours. At the time of writing, it was <a href="https://coinstats.app/coins/maker/">trading</a> at $1,547 with a market cap of over $1.4 billion. 
<figure id="attachment_60795" aria-describedby="caption-attachment-60795" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-60795" src="https://bitcoinworld.co.in/wp-content/uploads/Maker-Price-Chart-483x300.png" alt="" width="602" height="374" srcset="https://bitcoinworld.co.in/wp-content/uploads/Maker-Price-Chart-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/Maker-Price-Chart.png 760w" sizes="(max-width: 602px) 100vw, 602px">
 <figcaption id="caption-attachment-60795" class="wp-caption-text">
 Maker Price Chart | Source: Coinstats
 </figcaption>
</figure> 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
The post <a href="https://bitcoinworld.co.in/here-is-why-chainlink-link-and-maker-mkr-are-stirring-up-investor-interest/">Here Is Why Chainlink (LINK) And Maker (MKR) Are Stirring Up Investor Interest</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Here Is Why Chainlink (LINK) And Maker (MKR) Are Stirring Up Investor Interest

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