Chainlink Price Soars 22% On President-Elect Donald Trump’s World Liberty Financial Purchases: How High Can LINK Go?
By Benzinga
Chainlink (CRYPTO: LINK) soared 22% in 24 hours, bringing its month-over-month performance to 93% as fundamental developments point to a bullish future.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Chainlink (CRYPTO: LINK) | $27.80 | $17.4 billion | +22% | +14.8% |
| Avalanche (CRYPTO: AVAX) | $49.86 | $20.4 billion | +9.9% | -5.5% |
| TRON (CRYPTO: TRX) | $0.2963 | $25.6 billion | +8.2% | -12.4% |
Trader Notes: Crypto trader Altcoin Sherpa advises traders to look for demand zones on lower timeframes, targeting $25 for short-term scalping. For longer-term positions, he suggests $24 as an ideal entry. “Still bullish on this one,” he noted.
Another veteran trader, Jacob Canfield, highlighted Chainlink’s successful retest of its impulse breakout base, breaking local resistance, and called it “probably the start of the uptrend.”
Santiment data shows that Chainlink crossed $29 for the first time in 37 months, driven by increased whale and shark accumulation.
Large wallets holding more than 100,000 LINK have added 5.69 million LINK over two months, while smaller wallets (<100,000 LINK) have sold off 5.67 million LINK.
Historically, such accumulation by large wallets often signals potential market cap growth.
However, Chainlink’s success remains tied to Bitcoin’s stability, with long-term holders likely to benefit if conditions remain favorable.
Statistics: Lookonchain data highlighted that crypto whales are buying Chainlink as a whale spent 1,263 ETH, worth $4.94 million, to purchase 175,424 LINK at $28.18 in the past 5 hours.
World Liberty Financial, the crypto project tied to President-elect Donald Trump, has purchased Ethereum, Chainlink and Aave Finance. The wallet added 41,335 LINK at $24.2.
On this, crypto trader Bluntz Capital reacted “the president buying LINK was in the charts all along, always was.”
IntoTheBlock data shows Chainlink’s large transaction volume is down 17% and daily active addresses are lower by 13% in single day. Exchanges netflows narrowed by 161.2%. Transactions greater than $100,000 dropped from 852 to 541 in single day.
With monthly gains of around 93%, around 83% LINK holders are in profit and 17% are at breakeven.
Community News: Chainlink’s rally underscores its growing appeal among institutional and high-profile investors. Despite increased volatility, its fundamentals, including whale accumulation and partnerships, suggest long-term potential.
Chainlink and Coinbase announced that Coinbase’s Project Diamond will adopt Chainlink’s standards to power tokenized asset lifecycle management.
Emirates NBD, a leading banking group, added Chainlink as the fifth council member in its Digital Asset Lab, boosting its credibility in the financial sector.
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