Van de Poppe Puts Big Money Behind Chainlink

Michaël van de Poppe's altcoin portfolio has just received an interesting update. The trader, who manages a $200,000 allocation to various alternative cryptocurrencies, has invested $25,000 in Chainlink (LINK). This is the largest single position within his portfolio.

The investment in LINK aligns with van de Poppe's previous purchase of TAO, which he also included in the same portfolio. It appears that the trader is optimistic about the prospects for both cryptocurrencies.

From a technical perspective, Chainlink is currently holding a bullish structure above its 50- and 200-day exponential moving averages (EMAs) at $11.93 and $10.61 respectively. The token has also pressed against the upper Bollinger Band at $13.38, which may lead to a retracement towards the 50-EMA support before any further price action.