Ethereum

Rally

Chainlink

<img width="1742" height="980" src="https://coingape.com/wp-content/uploads/2024/01/abstract-futuristic-technology-background-of-chainlink-link-price-graph-chart-coin-digital-cryptocurrency-vector.jpg" class="attachment-full size-full wp-post-image" alt="Chainlink" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/01/abstract-futuristic-technology-background-of-chainlink-link-price-graph-chart-coin-digital-cryptocurrency-vector.jpg 1742w, https://coingape.com/wp-content/uploads/2024/01/abstract-futuristic-technology-background-of-chainlink-link-price-graph-chart-coin-digital-cryptocurrency-vector-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2024/01/abstract-futuristic-technology-background-of-chainlink-link-price-graph-chart-coin-digital-cryptocurrency-vector-1224x689.jpg 1224w, https://coingape.com/wp-content/uploads/2024/01/abstract-futuristic-technology-background-of-chainlink-link-price-graph-chart-coin-digital-cryptocurrency-vector-768x432.jpg 768w, https://coingape.com/wp-content/uploads/2024/01/abstract-futuristic-technology-background-of-chainlink-link-price-graph-chart-coin-digital-cryptocurrency-vector-1536x864.jpg 1536w, https://coingape.com/wp-content/uploads/2024/01/abstract-futuristic-technology-background-of-chainlink-link-price-graph-chart-coin-digital-cryptocurrency-vector-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2024/01/abstract-futuristic-technology-background-of-chainlink-link-price-graph-chart-coin-digital-cryptocurrency-vector-150x84.jpg 150w" sizes="(max-width: 1742px) 100vw, 1742px">
Oracle service provider Chainlink continues to be on a mega rally while dominating the broader cryptocurrency market. The Chainlink (LINK) price has shot up by 17% in the last 24 hours and is currently trading at $17.82 with a market cap of $10,8 billion. 
Over the last week, the LINK price has outperformed every other major altcoin with 30% gains. This price surge also comes on the backdrop of a <a href="https://coingape.com/markets/chainlink-price-eyes-30-milestone-amid-whale-accumulation-surge/" target="_blank" rel="noopener">strong accumulation</a> by the whales. 
<h3 id="chainlink-dominates-the-altcoin-rally">Chainlink Dominates the Altcoin Rally</h3> 
In a recent analysis by on-chain data provider Santiment, Chainlink (LINK) has emerged as a frontrunner among altcoins, propelled by notable on-chain activities. 
Santiment’s data indicates that previously dormant wallets have come to life, creating the highest Age Consumed spike for Chainlink, measuring at 5.38 billion. The Age Consumed metric is calculated by multiplying the coins moved by the number of days those coins had been dormant. This influx of LINK back into the network’s circulation has played a significant role in the recent price surge of the cryptocurrency. 
<figure id="attachment_178024" aria-describedby="caption-attachment-178024" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-178024" src="https://coingape.com/wp-content/uploads/2024/02/Chainlink-Coin-Movements.jpeg" alt="" width="2615" height="1725" srcset="https://coingape.com/wp-content/uploads/2024/02/Chainlink-Coin-Movements.jpeg 2615w, https://coingape.com/wp-content/uploads/2024/02/Chainlink-Coin-Movements-300x198.jpeg 300w, https://coingape.com/wp-content/uploads/2024/02/Chainlink-Coin-Movements-1224x807.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/02/Chainlink-Coin-Movements-768x507.jpeg 768w, https://coingape.com/wp-content/uploads/2024/02/Chainlink-Coin-Movements-1536x1013.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/02/Chainlink-Coin-Movements-2048x1351.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/02/Chainlink-Coin-Movements-150x99.jpeg 150w" sizes="(max-width: 2615px) 100vw, 2615px">
 <figcaption id="caption-attachment-178024" class="wp-caption-text">
 Courtesy: <a rel="nofollow" href="https://twitter.com/santimentfeed/status/1753130078211571727" target="_blank">Santiment</a>
 </figcaption>
</figure> 
Moreover, the analysis reveals that the Chainlink network experienced minor liquidations of wallets, a phenomenon often associated with Fear, Uncertainty, and Doubt (FUD). Such liquidations can contribute to increased price volatility and, paradoxically, may lead to further price rises as investors seek to capitalize on market opportunities. 
<h3 id="link-price-to-25">LINK Price to $25?</h3> 
On the technical chart, the Chainlink/BTC pair is showing strength and poised for a major breakout upwards. 
In a recent analysis, crypto analyst Michael van de Poppe has identified a significant development for Chainlink ($LINK) in the LINK/BTC trading pair. According to Van de Poppe, the confirmation of a higher low on the LINK/BTC pair is a noteworthy signal. 
<figure id="attachment_178025" aria-describedby="caption-attachment-178025" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-178025" src="https://coingape.com/wp-content/uploads/2024/02/LINKBTC.png" alt="" width="2274" height="1220" srcset="https://coingape.com/wp-content/uploads/2024/02/LINKBTC.png 2274w, https://coingape.com/wp-content/uploads/2024/02/LINKBTC-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/02/LINKBTC-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2024/02/LINKBTC-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/02/LINKBTC-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2024/02/LINKBTC-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2024/02/LINKBTC-150x80.png 150w" sizes="(max-width: 2274px) 100vw, 2274px">
 <figcaption id="caption-attachment-178025" class="wp-caption-text">
 Courtesy: <a rel="nofollow" href="https://twitter.com/CryptoMichNL/status/1753081474973348294" target="_blank">Michael van de Poppe</a>
 </figcaption>
</figure> 
Van de Poppe further speculates that if Ethereum experiences a surge in momentum, it could catalyze a substantial breakout for Chainlink in the near future. The analyst predicts the potential for a robust price movement, with Chainlink expected to reach levels <a href="https://coingape.com/chainlink-link-price-shoots-6-5-eyeing-a-potential-rally-to-25-30/" target="_blank" rel="noopener">between $25 and $30</a> in the coming period. 
Moreover, Van de Poppe also expects a strong altcoin market rally coming in the next 2-3 months. He expects a staggering 50-80% rise with the altcoin market alone reaching a valuation of $1.25 trillion. If so, Chainlink would obviously be a major contributor to this. 
The post <a href="https://coingape.com/chainlink-link-price-shoots-17-dominating-altcoin-rally-next-target-25/">Chainlink (LINK) Price Shoots 17% Dominating Altcoin Rally, Next Target $25</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Chainlink (LINK) Price Shoots 17% Dominating Altcoin Rally, Next Target $25

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