2024

Bitcoin

Chainlink

<p>The post <a href="https://coinpedia.org/news/crypto-whales-are-accumulating-this-altcoin-amid-crypto-market-crash/">Crypto Whales Are Accumulating This Altcoin Amid Crypto Market Crash</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency industry has shrunk amid decreased midterm optimism in the past few weeks. As for the <a href="https://coinpedia.org/price-prediction/chainlink-price-prediction/" target="_blank" rel="noreferrer noopener">Chainlink (LINK) price</a>, the altcoin has declined more than 21 percent in the past four weeks to hover around $14.33 on Wednesday, during the early London session.&nbsp;</p> 
<p>However, the crypto outlook will improve soon as more investors enter the industry. The Fed is expected to remain dovish in the coming quarters as the inflation eases amid the upcoming general election, thus signaling inevitable interest rate cuts. Moreover, the European and Canadian governments have already initiated interest rate cuts.</p> 
<h2 class="wp-block-heading" id="h-chainlink-whales-on-the-move">Chainlink Whales on the Move</h2> 
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   <p lang="en" dir="ltr">It seems that whales/institutions are accumulating <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>!<br><br>We noticed that 54 fresh wallets withdrew 2.08M <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>($30.28M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> in the past 7 days.<a href="https://t.co/SkqA1r0F1N">https://t.co/SkqA1r0F1N</a> <a href="https://t.co/VkPt0kwPb4">pic.twitter.com/VkPt0kwPb4</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1808040911764705395?ref_src=twsrc%5Etfw">July 2, 2024</a>
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<p>According to on-chain data analysis provided by Lookonchain, 54 new <a href="https://markets.coinpedia.org/chainlink/" target="_blank" rel="noreferrer noopener">Chainlink</a> wallets withdrew 2.08 million LINK, worth about $30.28 million, from Binance in the past seven days. The Chainlink ecosystem has grown into a vibrant ecosystem backed by both institutional investors and retail traders.</p> 
<p>According to on-chain data, the Chainlink network has more than 720k holders with non-zero balances.</p> 
<h2 class="wp-block-heading" id="h-growing-ecosystem-nbsp">Growing Ecosystem&nbsp;</h2> 
<p>The Chainlink network provides crucial oracle data to web3 and smart contract developers. As a result, more institutional investors seeking to build web3 projects involving real-world assets (RWA) tokenization have tapped into the Chainlink network.&nbsp;</p> 
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   <p lang="en" dir="ltr">We’re excited to announce that Fidelity International and Sygnum have partnered with <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a> to provide NAV data onchain for Fidelity International’s $6.9B money market fund.<br><br>This is a landmark production use case for tokenized assets <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/dfQ3Shgx6f">https://t.co/dfQ3Shgx6f</a> <a href="https://t.co/o0sT4JOQNj">pic.twitter.com/o0sT4JOQNj</a></p>— Chainlink (@chainlink) <a href="https://twitter.com/chainlink/status/1808382101999264050?ref_src=twsrc%5Etfw">July 3, 2024</a>
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<p>Additionally, Chainlink’s CCIP is already used by dozens of institutional investors seeking to build scalable and interoperable applications. In the latest adoption, the company announced that Fidelity International and Sygnum have partnered with Chainlink to provide NAV data on-chain for Fidelity International’s $6.9B money market fund.</p> 
<h2 class="wp-block-heading" id="h-midterm-expectations">Midterm Expectations</h2> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> has been seeing the same pattern over and over again. <br><br>First six months downwards.<br>Second six months bull market.<br><br>We're in the second six month part and are slowly grinding upwards. <br><br>Good times ahead. <a href="https://t.co/PhQfs808n7">pic.twitter.com/PhQfs808n7</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1808195683263897869?ref_src=twsrc%5Etfw">July 2, 2024</a>
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<p>Chainlink price has been trapped in a megaphone weekly consolidation since the beginning of this year, while <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> has pumped to its all-time high. According to a popular crypto analyst Michaël van de Poppe, LINK price is on the cusp of a major bullish uproar in the near term.</p> 
<p>Moreover, the weekly Bitcoin dominance has signaled an inevitable reversal, which will trigger the much-anticipated <a href="https://coinpedia.org/news/altcoins-season-might-begin-in-next-5-weeks-with-10x-rally-heres-why/" target="_blank" rel="noreferrer noopener">altseason</a>.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/top-altcoins-below-1-to-invest-before-the-revival-of-a-fresh-bullish-spell/" target="_blank" rel="noreferrer noopener">Top Altcoins Below $1 To Invest Before the Revival of a Fresh Bullish Spell</a></p>

Crypto Whales Are Accumulating This Altcoin Amid Crypto Market Crash

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