Chainlink Whales Trigger Price Rally; $LINK Price At $9 Next?

Also Read: XRP Perpetual Futures Volume Data Signal Massive Price Rally Above $1: Kaiko

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Chainlink Whale Action: Next Price Target

According to on-chain data from Santiment, Chainlink had on July 26, 2023 “jumped ahead of the altcoin pack” thanks to massive transaction volumes. Compared to the $211 million in trading volume the previous day, LINK had a more than 100% jump at $344 million volume on July 26. The Chainlink price is being boosted by heavy whale accumulation. So far in 2023, the altcoin recorded the highest amount of transactions, worth over $1 million. Also, crypto addresses holding 100,000 to 10 million $LINK coins are continuing to accumulate the coins at a rapid pace.

Meanwhile, the LINK coin’s recent breach of resistance at the $7.7 level brings to the forefront the new resistance level at $9, CoinGape price Analysis said.

In terms of the blockchain development progress, the Chainlink Cross-Chain Interoperability Protocol (CCIP) has officially launched on Avalanche, Ethereum, Optimism, and Polygon mainnets recently. The CCIP has been introduced as an open-source global standard for decentralized inter-blockchain messaging, data, and token movements.

Also Read: Republican Leaders Announce No Deal On Stablecoins In US Congress

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