The post Chainlink Whales Accumulate 3.58M LINK Worth $76.9M Amid Market Dip appeared on BitcoinEthereumNews.com.

Chainlink whales have accumulated $76.9 million worth of LINK coins in just three days, indicating strong long-term bullish sentiment. Analysts predict LINK could reach $43.03 by January 2025, offering a 91% ROI with a further $81 projection by May 2025. Following a strong rejection at $30 in mid-December, the Chainlink price has faced a strong correction of around 27% and is currently trading close to $21.50 support. However, despite this fall, LINK whales have been buying the dips in a massive accumulation. Chainlink Whale Accumulation On The Rise During the second half of December, Chainlink has been facing significant price retracement mirroring broader trends across the cryptocurrency market. However, this has given strong reason for whales to continue accumulation at every dip, per the CNF report. As per blockchain analytics firm Santiment, Chainlink whales – those holding between 1 million and 10 million LINK – have made massive LINK purchases recently adding a staggering 3.58 million LINK tokens, valued at approximately $76.9 million, in just the past three days. This accumulation by big players shows that the market sentiment for LINK is strong despite the recent price dip. Source: Santiment Amid this huge whale accumulation, the overall market sentiment around LINK remains quite optimistic with strong rally expectations in January 2025. As reported by Crypto News Flash, some analysts also believe that the LINK price can rally all the way to $80 by the end of next year. LINK Price Expectations in the Near Term and Long Term As of press time, the LINK price is trading 1.5% up at $21.68 with a market cap of $13.83 billion. Currently, LINK bulls are trying to hold strong support at $21.5 levels. Analyst shows that the Chainlink price is currently trading under crucial 20-day and 200-day moving averages (MAs). Source: Daniel.D Should…

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Filed under: News - @ December 29, 2024 8:15 am