Chainlink Pushes Towards Record Yearly High
Chainlink’s LINK token is climbing closer to a new yearly peak, hitting $26 in recent trade. This climb is driven by increasing investor enthusiasm and widespread adoption of its oracle network.
This month marks a important rally for Chainlink, with prices surging 123% from this year’s lowest point. The surge coincides with the launch of LINK reserves. Users can now move their on-chain and enterprise fees into this reserve. As of today, Chainlink holds 109,663 LINK tokens valued at over $2.7 million based on the current price.
Chainlink’s strategy has proved fruitful, as the average cost basis was $19.65. In addition, its network’s total value secured has soared past $93 billion, most attributed to Ethereum. Reports from @Token_Relations confirm a 90% growth rate across the year for Chainlink’s value secured.
- Whale accumulation has risen by 68% this month, totaling 5.61 million LINK tokens.
- Demand for LINK futures stands at a record-high of $1.5 billion.
- Chainlink partnered with Intercontinental Exchange to enhance forex and metals trading.
Technically, the LINK price chart illustrates a significant upward trend. With a formed double-bottom pattern and golden cross, analysts expect the price could hit $30. The Relative Strength Index and MACD are also showing signs of bullish movement.
