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Two cryptocurrency whales have acquired a substantial amount of Chainlink (LINK). LINK price soared 15%. 
On July 20, the traders swapped 3,146 staked ethereum (stETH) and ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) tokens worth $5.72 million to purchase 788,877 Chainlink (LINK) tokens.&nbsp; 
The two whales with wallet addresses 0x8b9 and 0x362 have seemingly acted as one entity to execute a momentous token swap.&nbsp; 
This acquisition was carried out at an average price of $7.25 per LINK token. This swap’s scale and strategic timing have sparked intrigue and speculation in the crypto community.&nbsp; 
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 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$LINK</a> On the Verge of Falling Wedge Breakout..!! – Accumulation Phase – RSI is Approaching the 2yr Downtrend Resistance. – Volume is Coming in. +260-280% Profit Potential in the Midterm..<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Chainlink</a> <a href="https://twitter.com/hashtag/LINK?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#LINK</a> <a href="https://t.co/R1WFJGCrmU" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/R1WFJGCrmU</a>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1681903608424693761?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 20, 2023</a> 
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The price of Chainlink (LINK) posted a 15% increase in the past 24 hours, reaching $8.12.&nbsp; 
On the weekly timeframe, LINK has experienced a significant surge of 12.9%. The 24-hour trading volume for LINK stands at $1.5 billion, with a circulating supply of 538 million LINK.&nbsp; Chainlink’s market capitalization is $4.3 billion.&nbsp; 
Currently, the price of <a href="https://www.coingecko.com/en/coins/chainlink" target="_blank" rel="noopener noreferrer nofollow">LINK</a> is trading around the resistance level. On the other hand, strong support is observed at around $6.6, a significant level for buyers. 
According to CryptoFaibik, LINK’s price could experience a significant increase of 260% to 280% in the midterm.&nbsp; 
The potential reason for this optimistic forecast is the possibility of a Falling Wedge Breakout. A Falling Wedge pattern is considered a bullish signal and could lead to a price surge if the breakout occurs.&nbsp; 
 You might also like: <a href="https://crypto.news/coinbases-base-integrates-chainlink-price-feeds/" rel="noopener noreferrer nofollow"> Coinbase’s Base integrates Chainlink price feeds </a> 
<h2 class="wp-block-heading" id="chainlink-enabling-cross-chain-interoperability">Chainlink enabling cross-chain interoperability </h2> 
In Aug. 2021, the Chainlink team <a href="https://crypto.news/chainlink-link-cross-chain-interoperability-protocol-ccip/" rel="noopener noreferrer nofollow">launched</a> its Cross-chain Interoperability Protocol (CCIP), to enable seamless and cost-effective value exchange between distributed ledgers. 
In June, the Society for Worldwide Interbank Telecommunication <a href="https://crypto.news/swifts-phase-two-cbdc-pilot-program-takes-flight/" rel="noopener noreferrer nofollow">(SWIFT)</a>, <a href="https://crypto.news/swift-and-chainlink-collaborate-for-banking-blockchain-integration/" rel="noopener noreferrer nofollow">joined forces</a> with Chainlink and other financial organizations to extend the former’s blockchain interoperability efforts. 
Last month, Chainlink released its Q2 <a href="https://crypto.news/chainlink-releases-q2-2023-product-update/" rel="noopener noreferrer nofollow">2023 product update</a>, outlining its focus on three crucial pillars: data, computing, and cross-chain capabilities.&nbsp; 
The <a href="https://crypto.news/tusd-to-use-chainlinks-proof-of-reserves/" rel="noopener noreferrer nofollow">Data Feeds</a> and Data Products have played a vital role in providing reliable on-chain information about external events, enabling the expansion of on-chain finance and tokenization of real-world assets. 
Recent deployments include rate and volatility data feeds, facilitating pricing, trading, and settlement of tokenized assets and on-chain derivatives contracts.&nbsp; 
 Read more: <a href="https://crypto.news/ethereum-whales-move-79k-eth-to-gate-io-and-coinbase/" rel="noopener noreferrer nofollow"> Ethereum whales move 79k ETH to Gate.io and Coinbase </a>

Chainlink price surges 15% as whales make major moves

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