DeFi

Chainlink

The post <a href="https://coinpedia.org/press-release/link-seems-shaky-analysts-emphasize-diversification-into-ai-projects/" rel="noopener noreferrer nofollow">Chainlink (LINK) Seems Shaky at $20; Analysts Emphasize Diversification into AI Projects &nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Given the extreme volatility of the crypto market, Chainlink has experienced a recent drop in price, which was not entirely unexpected. Concerns are raised that the LINK token could have been dumped by investors, potentially leading to a drop in its price for a prolonged period. If that’s the case, Chainlink will soon be in trouble.
Chainlink Seems Shaky at $20 – A return to $18 or a rally to $30
The price drop of Chainlink was partially triggered following a substantial transaction from BlockFi, a bankrupt crypto lending service, which moved tokens worth millions to the Kraken exchange, with the majority being (LINK).
A recent report highlights that Chainlink (LINK), a prominent Altcoin, has seen its price fall by over 4% within a 24-hour window. Notably, the cryptocurrency was nearing a pivotal $30 mark before the downturn, which has now prompted a reassessment among traders and analysts.
Chainlink’s <a href="https://coinmarketcap.com/currencies/chainlink/" target="_blank" rel="noopener noreferrer nofollow">price </a>is shaky, moving from $20 to $18. Moreover, it made a significant resistance zone on the 7-day downfall, depicting 9.07%. Failure to close above this resistance on the weekly chart could trigger a strong resumption of falling prices.
Chainlink Theft Leaves Analysts Emphasizing Diversification into AI Project (ALGT)
The recent $900,000 LINK theft targeting Chainlink’s assets has been deemed one of the most significant security breaches in the crypto space this year. This breach has not only resulted in significant financial losses but also leaves analysts emphasizing diversification into AI projects (Fetch.ai, Render, and ALGT).
Several investors are now dealing with financial losses as a result of the <a href="https://coinmarketcap.com/community/articles/65c1b34f28ab5d4a717fbedf/" target="_blank" rel="noopener noreferrer nofollow">theft of $900,000</a> worth of Chainlink. The consequences are triggering concerns about the safety of their investments, making them look elsewhere for better security. The incident has significantly damaged investor confidence and left the prospects for these assets in doubt.
Crypto analysts believe that if the market continues to exhibit bearish trends, Chainlink will likely decline, leading a former LINK advocate to back <a href="https://algotech.trade?utm_source=thecoinrepublic&amp;utm_medium=pr&amp;utm_campaign=2602" target="_blank" rel="noopener noreferrer nofollow">Algotech</a>.
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Algotech introduces a sustainable revenue model, where a 30% performance fee is collected from users benefiting from its algorithms. This fee is then distributed to ALGT holders, offering them passive and residual income opportunities as they engage with Algotech’s innovative trading ecosystem.
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Chainlink (LINK) Seems Shaky at $20; Analysts Emphasize Diversification into AI Projects

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