Satoshi

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Chainlink

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<p>Chainlink (LINK) has outperformed the broader cryptocurrency market, surging past the $17.50 mark for the first time in six weeks. The surge comes after the SEC approved Ethereum ETFs.</p>
<h2 class="wp-block-heading" id="onchain-metrics-reveal-positive-sentiment">Onchain Metrics Reveal Positive Sentiment</h2>
<p>According to a tweet by Santiment, Chainlink’s on-chain metrics are painting a bullish picture. The data reveals that for every LINK transaction at a loss, there are 11 transactions in profit.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f517.png" alt="🔗" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Chainlink</a> has climbed well ahead of the <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#crypto</a> pack, quickly surpassing $17.50 for the first time in 6 weeks. <a href="https://twitter.com/hashtag/Onchain?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Onchain</a> today, there are 11 transactions in profit for every 1 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$LINK</a> transaction at a loss. This is the highest ratio since Dec. 8, 2022. <a href="https://t.co/nILlWsXWNh" target="_blank" rel="noopener noreferrer nofollow">https://t.co/nILlWsXWNh</a> <a href="https://t.co/joMV55V5x7" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/joMV55V5x7</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1793863195788267961?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 24, 2024</a>
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<p>This ratio, the highest since December 8, 2022, indicates that the majority of LINK holders are currently in a profitable position, suggesting a positive market sentiment.</p>
<h2 class="wp-block-heading" id="traders-predict-further-price-appreciation">Traders Predict Further Price Appreciation</h2>
<p>Trader Mister Crypto has <a href="https://x.com/misterrcrypto/status/1793693625567564058" target="_blank" rel="noopener noreferrer nofollow">expressed</a> confidence in Chainlink’s future price performance, stating that LINK will easily surpass the $50 mark once again during this bull run.</p>
<p>This prediction reflects the growing optimism surrounding Chainlink’s fundamental value and its potential to drive significant growth in the cryptocurrency market.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="641" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-740-1024x641.png" alt="" class="wp-image-496058" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-740-1024x641.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-740-300x188.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-740-767x480.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-740-1536x961.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-740-2048x1281.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-740-240x150.png 240w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-740-100x63.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-740-560x350.png 560w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-740-788x492.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-740.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="chainlink-s-tokenization-potential">Chainlink’s Tokenization Potential</h2>
<p>The X account Chainlink Red Pill has <a href="https://x.com/ChainlinkP/status/1793863125831401859" target="_blank" rel="noopener noreferrer nofollow">highlighted</a> an intriguing aspect of Chainlink’s current market position. Despite LINK’s recent price appreciation, it still lags behind popular meme coins like Shiba Inu (<a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="SHIB" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">SHIB</a>) and Dogecoin (DOGE) in terms of market capitalization. However, the account emphasizes Chainlink’s potential to revolutionize tokenization, making it incredibly profitable for the world’s largest financial entities.</p>
<p>Chainlink Red Pill believes that Chainlink is vastly underpriced, considering its fundamental value proposition. The account goes as far as suggesting that LINK could experience a 50-100x price increase from its current levels, a sentiment that many investors may share. The account urges readers to recognize the opportunity that lies ahead, emphasizing that the evidence is “right in front of you.”</p>
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<h2 class="wp-block-heading" id="technical-analysis-suggests-further-upside">Technical Analysis Suggests Further Upside</h2>
<p>Analyst Satoshi Flipper has <a href="https://x.com/SatoshiFlipper/status/1792855224257831287" target="_blank" rel="noopener noreferrer nofollow">provided</a> a technical analysis of the LINK/USDT trading pair on the daily timeframe. The analysis reveals that LINK recently touched the top of the channel overnight, coming within just four cents of the resistance level.</p>
<p>Satoshi Flipper anticipates that the $17.50 level will soon flip from channel resistance to channel support, paving the way for LINK to target the $25.00 mark next.</p>
<p>Chainlink’s recent price surge above $17.50 and the accompanying bullish onchain metrics have generated excitement within the cryptocurrency community.&nbsp;&nbsp;</p>
<p><em><strong>Read more: <a href="https://captainaltcoin.com/sec-approves-ethereum-etfs-analyst-highlights-what-this-means-for-eth-bitcoin-btc-and-other-cryptocurrencies/" target="_blank" rel="noopener noreferrer nofollow">SEC Approves Ethereum ETFs: Analyst Highlights What This Means for ETH, Bitcoin (BTC), and Other Cryptocurrencies</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/chainlink-surges-past-17-50-signaling-increased-bullish-momentum-link-profit-ratio-reaches-highest-since-2022/" rel="noopener noreferrer nofollow">Chainlink Surges Past $17.50, Signaling Increased Bullish Momentum: LINK Profit Ratio Reaches Highest Since 2022</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Chainlink Surges Past $17.50, Signaling Increased Bullish Momentum: LINK Profit Ratio Reaches Highest Since 2022

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