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<p>Chainlink, a decentralized oracle network, is trending after its 6% hike within a day, recording a peak in months. It works on providing availability, reliability, and data accuracy, along with allowing off-chain data and resources to the Smart contracts.</p>
<p>This blog will cover the Chainlink price analysis and why it’s gaining hype these days.</p>
<h2 id="chainlink-link-price-analysis">Chainlink (LINK) Price Analysis</h2>
<p><a href="https://coingape.com/price/chainlink/" rel="noopener noreferrer nofollow">Chainlink Price</a> has surged over 6.5% in the last few hours, pushing the price range to $22.22 before dropping to the current value of $21.18. Impressively, the trading volume has surged to $1,194,582,619 after a hike of 204.72% from yesterday. With the increases in the market cap of LINK, it is at the 13th position of Coinmarketcap, where its market cap is at&nbsp; $12,445,913,95 after a hike of 6.32%.</p>
<p><em>Also read : <a href="https://coingape.com/trending/shiba-inu-vs-pepe-coin-where-should-you-invest/" rel="noopener noreferrer nofollow">Shiba Inu vs Pepe Coin: Where Should You Invest?&nbsp;</a></em></p>
<p>The recent peak is the highest value it has soared to in a year. Yet, it’s nothing compared to its all-time high value of $52.88, attained on 10 May 2021, 3 years ago.</p>
<p><a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/chainlink/"><img decoding="async" src="https://coingape.com/wp-content/uploads/2024/03/image-74.png" alt="Chainlink Price Analysis" width="969" height="543"></a></p>
<h3 id="why-chainlink-link-is-trending">Why Chainlink (LINK) Is Trending?</h3>
<p>According to analysts, the Chainlink graph has developed the cup and handle bullish pattern, which is a signal for the upcoming uptrend. The recent push has led the LINK prices to the month high of $22.22.</p>
<p>831,160 LINK tokens were withdrawn from the Binance exchange within two days, indicating increased whale activity for this crypto. According to the <a rel="noopener noreferrer nofollow" href="https://twitter.com/lookonchain/status/1766516226065629563?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1766516226065629563%7Ctwgr%5Ed3ca82398c7160205ac813118c2719f7378b1152%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcoingape.com%2Fmarkets%2Fchainlink-price-prediction-whale-accumulation-fuels-to-30%2F">Lookonchain report</a>, eight new wallets are responsible for this withdrawal, which might lead to a bullish factor for the crypto.</p>
<p>If the market performance stays the same with the bullish push for the next few days, Chainlink can head for the $30 mark after a potential growth of 52%.</p>
<h2 id="conclusion">Conclusion</h2>
<p>Finally, Chainlink has entered the bullish market as many cryptos, including <a href="https://coingape.com/trending/ethereum-about-to-hit-4k-against-all-odds/" rel="noopener noreferrer nofollow">Ethereum, have performed spectacularly well</a> for days. The recent whale interaction has surged the LINK prices to $22.22, which can rise to $30 in the next few days. Read more about <a href="https://coingape.com/blog/why-bitcoin-price-will-hit-above-70000-before-halving/" rel="noopener noreferrer nofollow">why Bitcoin price will hit above $70,000 before halving.&nbsp;</a></p>
<p>The post <a href="https://coingape.com/trending/top-reasons-why-chainlink-link-is-trending-today/" rel="noopener noreferrer nofollow">Top Reasons Why Chainlink (LINK) Is Trending Today?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Top Reasons Why Chainlink (LINK) Is Trending Today?

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