The price of Chainlink’s ($LINK) token has surged to new heights, reaching $19 and marking a significant 7.22% increase over the past 24 hours, hitting a yearly peak of $19.54.
This surge reflects the massive bullish momentum that LINK has been experiencing, with a remarkable 34% gain over the past week and a 44% uptrend in the past month. Additionally, its 24-hour trading volume has seen an impressive 91% surge.
Investor and institutional interest in LINK is on the rise, evident from the notable price spike and recent breakout from the consolidation zone.
Furthermore, there has been increased activity among whales, with notable acquisitions of LINK tokens and record transactions occurring.
Are institutions accumulating $LINK?
In the past 3 hours, 8 fresh wallets (likely one individual/institution) have jointly withdrawn 227,350 $LINK ($4.12M) at ~$18.1.
Notably, most of these tokens were withdrawn from CEX before the price abruptly jumped by ~4.1% just now.
Will… pic.twitter.com/jVYL0nXw5N
— Spot On Chain (@spotonchain) February 5, 2024
Massive Top $LINK Whales Move Token
On-chain reports from Spotonchain reveal that 8 new wallets, likely belonging to one individual or institution, collectively withdrew 227,350 $LINK tokens ($4.12 million) at an average price of approximately $18.1 in the past few hours. Interestingly, most of these tokens were withdrawn from centralized exchanges just before the price surged by 7%.
In a separate instance, five fresh wallets withdrew 130,763 LINK tokens ($2.35 million) from Binance at an average price of $18.01. Notably, these wallets have exclusively accumulated LINK tokens, indicating a focused interest in acquiring LINK.
The influx of new investors and institutions, along with the significant uptick in trading activity, underscores the growing confidence and interest in Chainlink’s ecosystem.
As LINK continues to gain momentum and attract attention from the broader cryptocurrency community, its bullish trajectory is poised to bring about further market developments and opportunities for investors.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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