Crypto
Chainlink Price Plunges 4% Amidst Growing Open Interest
Chainlink (LINK) price has dropped nearly 4% in 24 hours to $12.46, but derivatives data suggests smart money is using this dip to accumulate long exposure.
The broader structural trend remains intact, with LINK sitting 13% above its 50-day average and 34% above its 200-day average at $9.31.
Open interest on Binance Futures has exploded by 8.74%, reaching over $124 million in notional value, indicating a potential accumulation phase rather than distribution.