Chainlink (CRYPTO:LINK) soared 22% in 24 hours, raising its monthly performance to 93% as fundamental developments point towards a bullish future.
| Cryptocurrency | Price | Market capitalization | 24 hour trend | 7 day trend |
| Chainlink (CRYPTO:LINK) | $27.80 | 17.4 billion dollars | +22% | +14.8% |
| Avalanche (CRYPTO: AVAX) | $49.86 | $20.4 billion | +9.9% | -5.5% |
| TRON (CRYPTO:TRX) | $0.2963 | $25.6 billion | +8.2% | -12.4% |
Trader analysis
Altcoin cryptocurrency trader Sherpa advises traders to look for demand zones on shorter timescales, targeting $25 for short-term scalping. For long-term positions, he suggests $24 as an ideal entry. “I’m still optimistic about this one,” he noted.
Another veteran cryptocurrency trader, Jacob Canfield, highlighted the successful retesting of Chainlink’s short-term breakout base, breaking local resistance, and called it “probably the beginning of the uptrend.”
$LINK – Base of the impulse breakout retested and just broke local resistance. This is probably the start of the uptrend. https://t.co/xl2HD1mB77 pic.twitter.com/oWgK0ksUvL
— Jacob Canfield (@JacobCanfield) December 12, 2024
Santiment data shows Chainlink surpassed $29 for the first time in 37 months, driven by further accumulation by whales and sharks.
More Read
Large wallets holding more than 100,000 LINK have added 5.69 million LINK in two months, while smaller wallets (<100,000 LINK) have sold 5.67 million LINK. Historically, such accumulation by large wallets often signals significant market capitalization growth. However, Chainlink's success remains tied to Bitcoin‘s stability, and long-term holders are likely to benefit if conditions remain favorable.
Chainlink Statistics
Data from Lookonchain highlights that cryptocurrency whales are buying Chainlink, as one whale has spent 1,263 ETH, valued at $4.94 million, to buy 175,424 LINK at $28.18 in the last 5 hours.
World Liberty Financial, the cryptocurrency project linked to the president-elect donald trumphas acquired Ethereum, Chainlink and Aave Finance. The wallet added 41,335 LINK at $24.2.
In this regard, cryptocurrency trader Bluntz Capital reacted “the president buying LINK was always on the charts, it was always like that.”
Data from IntoTheBlock shows that Chainlink’s major transaction volume is down 17% and daily active addresses are down 13% in a single day. Net exchange flows decreased by 161.2%. Transactions over $100,000 fell from 852 to 541 in a single day.
With monthly gains of around 93%, around 83% of LINK holders are in profit and 17% are breaking even.
You can also read: Bitcoin will reach $250,000 in 2025, according to Tom Lee: An inevitable future?
Community News
Chainlink’s rally underscores its growing appeal among high-profile and institutional investors. Despite rising volatility, its fundamentals, including whale accumulation and partnerships, suggest long-term potential.
Chainlink and Coinbase announced that Coinbase’s Project Diamond will adopt Chainlink standards to drive lifecycle management of tokenized assets.
Emirates NBD, a leading banking group, added Chainlink as a fifth board member in its Digital Asset Lab, increasing its credibility in the financial sector.
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