- Chainlink gained over 12% in a day and 28% in the past week.
- Analyst Ali Martinez predicts further gains, citing a $20 resistance level.
- More than 75% of LINK holders own 62.9 million LINK valued at $1.12 billion.
In a surprising turn of events amidst the generally subdued crypto market activity, Chainlink (LINK) has emerged as a standout performer, showcasing gains exceeding 12% in a single day and a remarkable 28% over the past week.
Read CRYPTONEWSLAND on
google news
Renowned market analyst Ali Martinez has drawn attention to Chainlink’s bullish trajectory, suggesting that there might be more gains on the horizon. Martinez points to a substantial resistance level at $20, supported by on-chain analytics revealing 5,330 addresses collectively holding 8.59 million LINK tokens.
As of the latest update, LINK is currently trading at $17.90, with a notable 94.10% increase in trading volume compared to the previous day. Martinez’s analysis indicates a potential 11.74% increase in the coming hours or days, although surpassing the $20 threshold may pose a considerable challenge for the cryptocurrency.
Delving into the dynamics of LINK holders, a significant majority, comprising over 75% of LINK holders own 62.9 million LINK valued at an impressive $1.12 billion. On the flip side, 22.69% of LINK wallets, holding 18.56 million tokens, find themselves “out of the money,” signaling losses for investors who bought the coin at higher market values.
A smaller fraction, constituting 0.40%, neither incurred losses nor enjoyed profits with 325,830 LINK. As Chainlink continues to defy market trends, all eyes are on whether it can overcome the $20 resistance level and sustain its impressive momentum.
Read also:
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
