Crypto
Chainlink Price Surges on Whale Activity and Technical Breakout
Chainlink's (LINK) price has increased by 4% to $8.74, with a weekly gain of approximately 7%. The token has broken out of a prolonged downtrend and is now eyeing critical levels at $10.87 and $12.20.
The surge in whale transactions, with 246 transfers exceeding $100,000 within 24 hours, represents the highest single-day count in five months. Whales currently hold 46.57% of the entire LINK supply.
Market analyst Michaël van de Poppe notes that Chainlink is establishing higher highs and higher lows versus Bitcoin, indicating upward momentum and undervaluation relative to its fundamentals.