The post LINK has experienced by 3.21% in 24 hrs. appeared on BitcoinEthereumNews.com.

LINK depreciated by 3.21% in just 24 hours Despite the fall in price, however, market sentiment remained largely positive Over the past few weeks, altcoins have declined considerably on the price charts. Over the same period, LINK registered a sustained consolidation phase. The altcoin wasn’t immune to bouts of depreciation though, with the crypto down by 3% in the last 24 hours alone. And yet, market sentiment remains positive across the board. Is there a reason why? What’s driving LINK’s market optimism? Amidst market volatility, various developments have tried to push LINK’s price action in a positive direction. For starters, Coinbase Derivatives filed to list LINK-regulated Futures contracts with the CFTC. As expected, these reports have left everyone optimistic. Another factor playing a crucial role in changing the market sentiment is the speculation around LINK ETFs. According to Chainlink Red Pill, LINK ETFs may be on the horizon. He shared, ” The road to a $LINK ETF is being put in place. Timing-wise, this could be shaping up well. We want Tradfi to have an easy path to buy $LINK when Sergey starts dropping massive Chainlink utilization for RWAs. It’s all coming together.” These two developments have played a vital role in shaping the market’s sentiment. By extension, many in the community are also predicting higher price targets for LINK. Popular crypto analyst Swing Tony is among those betting big on the altcoin. According to him, “$LINK can realistically go to 0.0009 $BTC this cycle. $75k BTC would put LINK over $67. $150k BTC would put LINK at $135.” What do LINK’s fundamentals suggest? AMBCrypto’s analysis of CryptoQuant revealed that the market has been seeing some positive growth on the charts. In fact, LINK’s exchange supply ratio registered a sustained decline from 0.161 to 0.159 over the course of just…

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Filed under: News - @ June 30, 2024 10:14 am