FOMO

Chainlink

<ul>
 <li><strong>Chainlink surges 24% on dormant whale activity, sparking renewed market interest.</strong></li>
 <li><strong>Technicals signal LINK’s potential breakout towards $25–30.</strong></li>
</ul>
<p>The cryptocurrency market has witnessed a significant surge in Chainlink (LINK) prices, with a notable 24% increase this week and reaching a two-year high currently at $19.6. This surge is fueled by a series of intriguing events, including a surge in dormant whale transactions, technical indicators pointing towards a <a href="https://thenewscrypto.com/chainlink-price-hits-2-year-high-whats-next-for-link-bulls/" rel="noopener noreferrer nofollow">bullish</a> trend, and increased trading volume.</p>
<p>Notably, according to the <a href="https://twitter.com/lookonchain/status/1754332132095427026?t=QFOi_ba37Z4m1e3p4OOnnA&amp;s=35" rel="noopener noreferrer nofollow">data</a> from Lookonchain,&nbsp; hours ago, four newly activated wallets collectively withdrew 119,583 LINK tokens, equivalent to approximately $2.15 million, from Binance in the recent hours. This movement suggests a renewed interest from large holders in the Chainlink ecosystem, possibly indicating a shift in market sentiment.</p>
<p>Moreover, Blockchain analytics platform Santiment has recently highlighted a crucial metric for Chainlink – the “Age Consumed” metric. The metric recorded its highest-ever reading at 5.38 billion, indicating a substantial movement of tokens that were dormant for an extended period. This awakening of long-dormant LINK whales, who are now transferring significant sums back into circulation, has ignited FOMO among smaller investors, contributing to the recent price surge.</p>
<h3 class="wp-block-heading" id="h-what-can-link-community-expect">What Can LINK Community Expect?</h3>
<p>Santiment also observed minor liquidations from wallets historically associated with fear, often preceding further upside movements. This suggests that nervous investors may be exiting, paving the way for a more confident and optimistic market.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/gkPEh1DR08kyecjcNRM2vXfXKRc17ftVDvKVa2hxT4jvUDMp6vp7h6gqacQ2Qn2ud3c9wocwBiDxpR9SkQ8xLwEHM5L4oxZnCTe7WaNGHjpyAweCwVWsv3In9cOT55q9mJTnQbdah7OCddweNfuzqQ" alt="">
  <figcaption class="wp-element-caption">
   LINK Price Chart, Source : TradingView
  </figcaption>
 </figure>
</div>
<p>Technical analysts are also weighing in on LINK’s potential. The cryptocurrency has confirmed a higher price low. And research reveals that the analysts are predicting a “massive breakout” towards the $25–30 range.<br><br>In the last 24 hours, LINK has surged by 6%, and in the same timeline, trading volume has seen a remarkable 62% increase, reaching $889 million. It indicates heightened market activity. As Chainlink continues to gather momentum and with positive indicators aligning, market participants are closely watching for further developments. The community anticipates a potential extended rally.</p>

Chainlink Soars 24% on Whale Activity and Positive Technicals

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TheNewsCrypto

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