{"id":570494,"date":"2024-01-20T12:00:10","date_gmt":"2024-01-20T12:00:10","guid":{"rendered":"https:\/\/uniquehot.com\/?p=570494"},"modified":"2024-06-11T07:40:25","modified_gmt":"2024-06-11T07:40:25","slug":"chainlink-gets-whale-backing-link-price-up-14-amid-market-dip","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/chainlink\/chainlink-gets-whale-backing-link-price-up-14-amid-market-dip\/","title":{"rendered":"Chainlink Gets Whale Backing: LINK Price Up 14% Amid Market Dip"},"content":{"rendered":"

In the midst of the recent turbulence within the cryptocurrency market, Chainlink (LINK) has emerged as a notable outlier, demonstrating resilience against the sweeping downturn that has left major altcoins crumbling.<\/p>\n

Surprisingly, LINK has steadfastly clung to the $16 mark, showcasing a 14% rally in the last seven days<\/a> and defying the prevailing market trends. However, investors are left to ponder whether this is a promising sign for Chainlink’s future or merely a momentary blip in the radar.<\/p>\n

Related Reading: Robinhood Goes Shiba Crazy, Buys 230 Billion SHIB In 24 Hours \u2013 Here\u2019s The Scoop<\/a><\/div>\n
\"\"Source: Coingecko<\/pre>\n
Massive Chainlink Whale Purchase<\/strong><\/h2>\n
This positive signal coincides with a notable $8.9 million whale purchase, injecting a substantial dose of confidence into the market. Yet, beneath the surface, murmurs of a whale exodus are causing concern.<\/p>\n
\n
After the price of $LINK<\/a> dropped today, a whale spent 8.9M$ to buy 601,949 $LINK<\/a> at $14.81 with 3 new wallets.https:\/\/t.co\/W7BjWM2XsP<\/a> pic.twitter.com\/xlFPqWv4ko<\/a><\/p>\n
\u2014 Lookonchain (@lookonchain) January 19, 2024<\/a><\/p><\/blockquote>\n
This purchase also dampens some worries especially following a recent selling spree\u00a0by Chainlink investors, who offloaded a significant 2.3 million tokens since January 12th.<\/p>\n
The positive signal also comes after recent concerns in the absence of a noteworthy uptick in fundamental growth metrics such as network usage. Without substantial real-world adoption, the coveted $20 price point for Chainlink might remain an elusive mirage.<\/p>\n
LINK market cap currently at $9.044 billion. Chart: TradingView.com<\/a><\/pre>\n
Chainlink’s Strengths Persist Amid Market Uncertainty<\/strong><\/h2>\n
Meanwhile, IntoTheBlock’s global in\/out of the money (GIOM) chart uses the historical entry prices of the current LINK holders to highlight critical levels of support and resistance.<\/p>\n
\"\"Source: IntoTheBlock<\/pre>\n
In the near term, investors may opt for short-covering maneuvers to prevent falling into a net-loss position, a strategy that could lead to the consolidation of Chainlink’s (LINK) price just below the $15 threshold in the upcoming days.<\/p>\n
Conversely, bullish market participants could potentially counter this bearish scenario by successfully pushing the price beyond the $20 territory. However, a potential hurdle arises from the fact that over 94,000 holders have accumulated 51 million LINK at a minimum price of $18.8.<\/p>\n
This sizable accumulation suggests the possibility of bears establishing a formidable sell-wall in that price range, potentially triggering a retreat in LINK’s value.<\/p>\n
The interplay of these dynamics underscores the delicate balance between short-term tactical moves and broader market sentiment that currently characterizes the trajectory of Chainlink’s price.<\/p>\n
Despite the prevailing turbulence, the core strengths of Chainlink should not be overlooked. Its established role as a leading oracle provider within the blockchain ecosystem remains undiminished.<\/p>\n
Related Reading: Will X Unleash The Doge? Platform Users Eager To Embrace The Meme Coin<\/a><\/div>\n
If the broader crypto market stages a recovery and fundamental growth aligns, a resurgence for Chainlink is not out of the realm of possibility.<\/p>\n
Featured image from Freepik<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
In the midst of the recent turbulence within the cryptocurrency market, Chainlink (LINK) has emerged as a notable outlier, demonstrating resilience against the sweeping downturn that has left major altcoins crumbling. Surprisingly, LINK has steadfastly clung to the $16 mark, showcasing a 14% rally in the last seven days and defying the prevailing market trends. However, investors are left to ponder whether this is a promising sign for Chainlink’s future or merely a momentary blip in the radar. Related Reading: Robinhood Goes Shiba Crazy, Buys 230 Billion SHIB In 24 Hours \u2013 Here\u2019s The Scoop Source: Coingecko Massive Chainlink Whale Purchase This positive signal coincides with a notable $8.9 million whale purchase, injecting a substantial dose of confidence into the market. Yet, beneath the surface, murmurs of a whale exodus are causing concern. After the price of $LINK dropped today, a whale spent 8.9M$ to buy 601,949 $LINK at $14.81 with 3 new wallets.https:\/\/t.co\/W7BjWM2XsP pic.twitter.com\/xlFPqWv4ko \u2014 Lookonchain (@lookonchain) January 19, 2024 This purchase also dampens some worries especially following a recent selling spree\u00a0by Chainlink investors, who offloaded a significant 2.3 million tokens since January 12th. The positive signal also comes after recent concerns in the absence of a noteworthy uptick in fundamental growth metrics such as network usage. Without substantial real-world adoption, the coveted $20 price point for Chainlink might remain an elusive mirage. LINK market cap currently at $9.044 billion. Chart: TradingView.com Chainlink’s Strengths Persist Amid Market Uncertainty Meanwhile, IntoTheBlock’s global in\/out of the money (GIOM) chart uses the historical entry prices of the current LINK holders to highlight critical levels of support and resistance. Source: IntoTheBlock In the near term, investors may opt for short-covering maneuvers to prevent falling into a net-loss position, a strategy that could lead to the consolidation of Chainlink’s (LINK) price just below the $15 threshold in the upcoming days. Conversely, bullish market participants could potentially counter this bearish scenario by successfully pushing the price beyond the $20 territory. However, a potential hurdle arises from the fact that over 94,000 holders have accumulated 51 million LINK at a minimum price of $18.8. This sizable accumulation suggests the possibility of bears establishing a formidable sell-wall in that price range, potentially triggering a retreat in LINK’s value. The interplay of these dynamics underscores the delicate balance between short-term tactical moves and broader market sentiment that currently characterizes the trajectory of Chainlink’s price. Despite the prevailing turbulence, the core strengths of Chainlink should not be overlooked. Its established role as a leading oracle provider within the blockchain ecosystem remains undiminished. Related Reading: Will X Unleash The Doge? Platform Users Eager To Embrace The Meme Coin If the broader crypto market stages a recovery and fundamental growth aligns, a resurgence for Chainlink is not out of the realm of possibility. Featured image from Freepik<\/p>\n","protected":false},"author":557,"featured_media":570501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83381,89589,3],"tags":[16295,79580,6664,16097,75940],"class_list":["post-570494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chainlink","category-chainlink-news","category-news","tag-chainlink","tag-chainlink-price","tag-crypto","tag-link","tag-linkusd"],"acf":[],"yoast_head":"\nChainlink Gets Whale Backing: Eyes $20 Mark after Market Dip<\/title>\n<meta name=\"description\" content=\"In the midst of the recent turbulence within the cryptocurrency market, Chainlink (LINK) has emerged as a notable outlier, demonstrating resilience\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Chainlink Gets Whale Backing: LINK Price Up 14% Amid Market Dip","url":"http:\/\/uniquehot.com\/news\/chainlink\/chainlink-gets-whale-backing-link-price-up-14-amid-market-dip\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/chainlink\/chainlink-gets-whale-backing-link-price-up-14-amid-market-dip\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/a_2fe2ca.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/a_2fe2ca.png?fit=442%2C319"},"articleSection":"Chainlink","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["chainlink","chainlink price","crypto","link","linkusd"],"dateCreated":"2024-01-20T12:00:10Z","datePublished":"2024-01-20T12:00:10Z","dateModified":"2024-06-11T07:40:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Chainlink Gets Whale Backing: LINK Price Up 14% Amid Market Dip\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/chainlink\\\/chainlink-gets-whale-backing-link-price-up-14-amid-market-dip\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/chainlink\\\/chainlink-gets-whale-backing-link-price-up-14-amid-market-dip\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/a_2fe2ca.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/a_2fe2ca.png?fit=442%2C319\"},\"articleSection\":\"Chainlink\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"chainlink\",\"chainlink price\",\"crypto\",\"link\",\"linkusd\"],\"dateCreated\":\"2024-01-20T12:00:10Z\",\"datePublished\":\"2024-01-20T12:00:10Z\",\"dateModified\":\"2024-06-11T07:40:25Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/a_2fe2ca.png?fit=442%2C319","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/570494"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=570494"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/570494\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/570501"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=570494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=570494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=570494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}