Chainlink Price, Futures OI Soar To New Highs, Dominate TON, TRX
The post Chainlink Price, Futures OI Soar To New Highs, Dominate TON, TRX appeared on BitcoinEthereumNews.com.
Chainlink price has hit a high note as the crypto achieved a record-breaking $770M in open interest. This signals a surge in market activity and investor confidence. With $35.57M in realized profits and short-term active address momentum rising, LINK’s futures market is gaining strong traction. Chainlink Open Interest Surges to Record High as LINK Price Hits 2-Year Peak Chainlink price reached its highest level in 2 years. Futures Open Interest followed suit, reaching a new all-time high of $770.27 Million. As per Glassnode data, we can see that the amount has increased. This is due to a surge of market participation and interest in LINK futures contracts. It is worth noting that LINK’s OI has finally surpassed other tokens like TON ($259 Million) and TRX ($356 Million). Proving once again how Chainlink is becoming larger in the derivatives market. Chainlink price peaks were supported by the project’s continued development as a decentralized oracle and has boosted confidence in market performance. – Advertisement – The surge in open interest also represents a broader confidence in the market that LINK will see further development as an oracle, alongside other products currently in development. The second half of 2023 and 2024 will see open interest in LINK wildly expand, indicating tremendous speculation and market demand for the project. Traders were increasingly hedging their positions. The amount of LINK being traded is up, as is the volume of futures contracts. Chainlink Sees $35.57M in Realized Profits, Marking Major Profit-Taking Event One of the largest spot market profit-taking events for Chainlink happened on December 12th, 2024, with a realized profit worth $35.57 million. This was the second-largest profit-taking event by LINK in the year after the first one took place in February. Realized profits rise during this period as traders act on the increase in…
Filed under: News - @ December 15, 2024 2:25 am