{"id":33621,"date":"2023-12-03T10:52:35","date_gmt":"2023-12-03T14:52:35","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=33621"},"modified":"2023-12-03T10:52:35","modified_gmt":"2023-12-03T14:52:35","slug":"link-price-climbs-above-16-again-whats-behind-the-latest-surge","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/03\/link-price-climbs-above-16-again-whats-behind-the-latest-surge\/","title":{"rendered":"LINK Price Climbs Above $16 Again \u2013 What\u2019s Behind The Latest Surge?"},"content":{"rendered":"

The LINK price seems to be intensifying its bullish momentum again after cooling off over the past few weeks. Despite the recent sluggishness in Chainlink\u2019s price action<\/a>, the cryptocurrency has maintained most of its profit and managed to stay above the $14 level<\/a> in the past weeks.<\/p>\n

Interestingly, the LINK price recently made its way above the $16 mark for the second time in less than a month. But here is the question \u2013 what is driving the latest surge<\/a>?<\/p>\n

On-Chain Data Reveals Catalyst For Chainlink\u2019s Jump To $16<\/strong><\/h2>\n

The latest on-chain revelation from Santiment has offered insight into the catalyst behind LINK\u2019s price jump<\/a> to $16. According to data from the crypto analytics firm, Chainlink\u2019s richest wallets have made a substantial amount of token purchases in the past few days.<\/p>\n

In a December 2 post on X, Santiment revealed that LINK whales bought about 3.9 million tokens (worth more than $62 million) in the past three days. This data point highlights an increase in the total amount of tokens held by the 200 largest Chainlink addresses.<\/p>\n

#Chainlink<\/a> is moving ahead of the #altcoin<\/a> field once again, aided by the top whales continuing to accumulate. The 200 largest wallets have added just over $50M $LINK<\/a> in ~5 weeks. In 5 months, its market cap is +143% overall, and +93% vs. #Bitcoin<\/a>. https:\/\/t.co\/HUjTnCY5c9<\/a> pic.twitter.com\/oAPl9SQaJ5<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) December 2, 2023<\/a><\/p>\n\n

This recent market activity underscores the current accumulation trend amongst Chainlink whales. According to data provided by Santiment, the top 200 wallets have loaded up more than $50 million worth of LINK tokens in approximately five weeks.<\/p>\n

Furthermore, the on-chain analytics firm also revealed that the 200 largest Chainlink addresses currently hold a combined 746.57 million tokens (equivalent to a massive $11.84 billion). This figure represents nearly 75% of LINK\u2019s total supply.<\/p>\n

This accumulation trend is a positive sign<\/a> for LINK and its price trajectory, as it suggests that large investors are keeping their faith in the asset and banking on the token\u2019s price growth.<\/p>\n

Is LINK Outperforming Bitcoin?<\/strong><\/h2>\n

As of this writing, the LINK token<\/a> is valued at $16.11, reflecting a nearly 2% price increase in the last 24 hours. According to data from CoinGecko, the cryptocurrency has jumped by more than 7.5% in the past week.<\/p>\n

With its market capitalization rising by more than 143% in the last five months, Chainlink\u2019s performance over the past few months is even more remarkable. Moreover, the altcoin has held its own against the premier cryptocurrency, Bitcoin.<\/p>\n

Based on data provided by Santiment<\/a>, LINK has outperformed the market leader by over 93% \u2013 in terms of market cap \u2013 in the past five months. This is especially impressive considering that Bitcoin has also been on a positive run, recently breaking above $39,000 for the first time in over a year<\/a>.<\/p>\n

Nevertheless, Bitcoin maintains its position as the top cryptocurrency with a market cap of $772 billion. Comparatively, LINK ranks as the 12th-largest asset with a $9 billion market capitalization.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The LINK price seems to be intensifying its bullish momentum again after cooling off over the past few weeks. Despite the recent sluggishness in Chainlink\u2019s price action<\/a>, the cryptocurrency has maintained most of its profit and managed to stay above the $14 level<\/a> in the past weeks.<\/p>\n

Interestingly, the LINK price recently made its way above the $16 mark for the second time in less than a month. But here is the question \u2013 what is driving the latest surge<\/a>?<\/p>\n

On-Chain Data Reveals Catalyst For Chainlink\u2019s Jump To $16<\/strong><\/h2>\n

The latest on-chain revelation from Santiment has offered insight into the catalyst behind LINK\u2019s price jump<\/a> to $16. According to data from the crypto analytics firm, Chainlink\u2019s richest wallets have made a substantial amount of token purchases in the past few days.<\/p>\n

In a December 2 post on X, Santiment revealed that LINK whales bought about 3.9 million tokens (worth more than $62 million) in the past three days. This data point highlights an increase in the total amount of tokens held by the 200 largest Chainlink addresses.<\/p>\n

#Chainlink<\/a> is moving ahead of the #altcoin<\/a> field once again, aided by the top whales continuing to accumulate. The 200 largest wallets have added just over $50M $LINK<\/a> in ~5 weeks. In 5 months, its market cap is +143% overall, and +93% vs. #Bitcoin<\/a>. https:\/\/t.co\/HUjTnCY5c9<\/a> pic.twitter.com\/oAPl9SQaJ5<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) December 2, 2023<\/a><\/p>\n

This recent market activity underscores the current accumulation trend amongst Chainlink whales. According to data provided by Santiment, the top 200 wallets have loaded up more than $50 million worth of LINK tokens in approximately five weeks.<\/p>\n

Furthermore, the on-chain analytics firm also revealed that the 200 largest Chainlink addresses currently hold a combined 746.57 million tokens (equivalent to a massive $11.84 billion). This figure represents nearly 75% of LINK\u2019s total supply.<\/p>\n

This accumulation trend is a positive sign<\/a> for LINK and its price trajectory, as it suggests that large investors are keeping their faith in the asset and banking on the token\u2019s price growth.<\/p>\n

Is LINK Outperforming Bitcoin?<\/strong><\/h2>\n

As of this writing, the LINK token<\/a> is valued at $16.11, reflecting a nearly 2% price increase in the last 24 hours. According to data from CoinGecko, the cryptocurrency has jumped by more than 7.5% in the past week.<\/p>\n

With its market capitalization rising by more than 143% in the last five months, Chainlink\u2019s performance over the past few months is even more remarkable. Moreover, the altcoin has held its own against the premier cryptocurrency, Bitcoin.<\/p>\n

Based on data provided by Santiment<\/a>, LINK has outperformed the market leader by over 93% \u2013 in terms of market cap \u2013 in the past five months. This is especially impressive considering that Bitcoin has also been on a positive run, recently breaking above $39,000 for the first time in over a year<\/a>.<\/p>\n

Nevertheless, Bitcoin maintains its position as the top cryptocurrency with a market cap of $772 billion. Comparatively, LINK ranks as the 12th-largest asset with a $9 billion market capitalization.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-33621","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=33621"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33621\/revisions"}],"predecessor-version":[{"id":33628,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33621\/revisions\/33628"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33621"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}