Chainlink Price Surges 35% Amid Whale Buying and Institutional Interest
Chainlink's price has surged by 35% over the past month, driven by significant purchases from large holders and institutional interest. According to Pluang, these 'whales' bought approximately 10.36 million tokens worth around $120 million during a recent price dip.
The influx of capital coincides with Chainlink's network reaching a record-breaking $30 trillion in cumulative transaction value, as reported by the source.
Additionally, institutional investors like Grayscale and Bitwise have increased their Chainlink holdings, with Grayscale's ETF acquiring over 1 million LINK worth $12.12 million in just 18 days.
The technical signals suggest that breaking above $12 could trigger further gains towards $13.30, $14, and potentially $15 for the cryptocurrency.