In recent days, the Chainlink platform has seen a significant rise in transaction activity among large holders. Data indicates that whales are actively accumulating LINK amidst increased market interest.
Increase in Whale Transactions in Chainlink
The volume of transactions conducted by major LINK holders has increased by 32.8% in the last 24 hours, leading to whales accumulating approximately $26.69 million in LINK. A total of 1.97 million LINK has been transacted in the past day.
Current Market Analysis for LINK
Over the past week, Chainlink whales have hit a seven-day high, transacting a total of 8.65 million LINK. The lowest volume transacted during this period was 1.5 million LINK. A significant rise in interest for the asset is also observed among retail traders, with trading volume spiking by 63.89% to $303.06 million.
Growth Prospects for Chainlink
For Chainlink to witness a breakout, it needs to rise above the $14 to $14.60 resistance zone. If LINK breaks through the $14.60 level, further growth to $16 can be anticipated, which is another crucial resistance level. A breakout above this point could confirm a bullish trend in the Chainlink digital asset market.
Based on the current market situation, Chainlink may present an attractive investment opportunity, particularly with the activation of whales and potential growth prospects.
