{"id":24130,"date":"2023-10-22T13:30:04","date_gmt":"2023-10-22T13:30:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/chainlink-link-price-soars-to-near-10-heres-why\/"},"modified":"2023-10-22T13:30:04","modified_gmt":"2023-10-22T13:30:04","slug":"chainlink-link-price-soars-to-near-10-heres-why","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/chainlink-link-price-soars-to-near-10-heres-why\/","title":{"rendered":"Chainlink (LINK) price soars to near $10, here&#8217;s why"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676573458312-d2a35d56-ef24-40eb-ab5a-913d9f4bd40f-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676573458312-d2a35d56-ef24-40eb-ab5a-913d9f4bd40f-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676573458312-d2a35d56-ef24-40eb-ab5a-913d9f4bd40f-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676573458312-d2a35d56-ef24-40eb-ab5a-913d9f4bd40f-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Chainlink (LINK) price has surged more than 23% in the past week.<\/li>\n<li dir=\"ltr\">On-chain data shows LINK price soared amid whale accumulation.<\/li>\n<li dir=\"ltr\">Most of the whale accumulation and massive uptake has been on South Korea exchanges Bithumb and Upbit.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/chainlink\/\">Chainlink (LINK)<\/a> price traded above $9.75 on Sunday, hitting its highest level since May 2022 amid a positive broader crypto market. The price of LINK was up 13% in the past 24 hours and 23% in the past week at the time of writing.<\/p>\n<p dir=\"ltr\">But as LINK price eyes a retest of the $10.00 level, analysts looking at on-chain data say traders are likely to benefit if they watch out for whale activity.<\/p>\n<h2 dir=\"ltr\">Why has LINK price been soaring?<\/h2>\n<p dir=\"ltr\">Chainlink, whose oracle network is seeing staggering adoption, including after its Cross-Chain Interoperability Protocol (CCIP) went live, has been one of the top performers in the crypto market amid the latest bullish sentiment.<\/p>\n<p dir=\"ltr\">According to on-chain analytics and smart money account Lookonchain, the surge in LINK price coincided with whale accumulation and massive uptake on South Korea exchanges Bithumb and Upbit. During the price surge, data indicates the two leading Korean exchanges accumulated 945K LINK, worth about $9 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">2\/<\/p>\n<p>We noticed that during the <a href=\"https:\/\/twitter.com\/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LINK<\/a> price increase, Korean exchanges <a href=\"https:\/\/twitter.com\/hashtag\/Bithumb?src=hash&amp;ref_src=twsrc%5Etfw\">#Bithumb<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/Upbit?src=hash&amp;ref_src=twsrc%5Etfw\">#Upbit<\/a> accumulated a total of 945K <a href=\"https:\/\/twitter.com\/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LINK<\/a> ($9M).<\/p>\n<p>The rise in <a href=\"https:\/\/twitter.com\/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LINK<\/a> price has a lot to do with <a href=\"https:\/\/twitter.com\/hashtag\/Bithumb?src=hash&amp;ref_src=twsrc%5Etfw\">#Bithumb<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/Upbit?src=hash&amp;ref_src=twsrc%5Etfw\">#Upbit<\/a>.<a href=\"https:\/\/t.co\/WSDMxJ1kgb\">https:\/\/t.co\/WSDMxJ1kgb<\/a><a href=\"https:\/\/t.co\/S4QxKdnry6\">https:\/\/t.co\/S4QxKdnry6<\/a> <a href=\"https:\/\/t.co\/6jOAjRa5iJ\">pic.twitter.com\/6jOAjRa5iJ<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1716022927437771023?ref_src=twsrc%5Etfw\">October 22, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Currently, exchanges hold roughly 202.6 million LINK, which represents 20.26% of total supply and is valued at about $1.9 billion. While 37.45 million is currently staked by holders, there are \u201cmany giant whales of $LINK,\u201d including one with 81 addresses holding over 11 million tokens and another with 38 addresses holding over 8.35 million LINK tokens.<\/p>\n<h2 dir=\"ltr\">Chainlink price outlook<\/h2>\n<p dir=\"ltr\">As well as the 30-day time frame, Chainlink\u2019s native token is up over the past one-year, with its current price a 52-week high. However, while LINK\/USD has enjoyed some upside episodes year-to-date, prices were largely constrained below the $8.60 mark. Chainlink also fell to lows of $4.77 in June this year.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 700px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/09\/22\/1697979571179-d5b6b51f-f39b-4123-b0e5-4ff3613d3b37.png\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"267\"\/><span class=\"fr-inner\">Chainlink price on weekly chart. Source.\u00a0<a href=\"https:\/\/www.tradingview.com\/x\/OxDKqjWO\/\" rel=\"noopener noreferrer\" target=\"_blank\">TradingView<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">On-chain data <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1716022931057525059\" rel=\"noopener noreferrer\" target=\"_blank\">suggests<\/a> whales could be looking for some profit deals after aggressive accumulation over the past several weeks. The outlook comes after Chainlink (LINK) whale activity soared to new highs.<\/p>\n<p dir=\"ltr\">Whale activity was also behind <a href=\"https:\/\/coinjournal.net\/news\/3-reasons-why-chainlink-link-price-just-surged\/\">LINK\u2019s surge in July<\/a>. The latest price spike is likely to attract some downside pressure.<\/p>\n<\/div>\n<p dir=\"ltr\">\u201c<em>This whale bought 1.25M $LINK ($9.5M) on-chain at an average price of $7.58 and has made a profit of $2.1M at the current price. Be wary of whales selling $LINK for profit<\/em>,\u201d Lookonchain posted on X.<\/p>\n<p dir=\"ltr\">While continued whale accumulation portends possible near-term price explosion, its likely the spike to near $10 could come with some sell-off pressure.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/chainlink-price-link-jumps-13-to-hit-1-year-high\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Chainlink (LINK) price has surged more than 23% in the past week. On-chain data shows LINK price soared amid whale accumulation. Most of the whale accumulation and massive uptake has been on South Korea exchanges Bithumb and Upbit. Chainlink (LINK) price traded above [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24130"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24130"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24131"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}