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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

LINK Price Keeps Steady With 7% Surge In Last 7 Days, But Things Might Change

Christian Encila
Christian Encila
2 years ago
4 mins read
LINK

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LINK, within the last 30 days, has already visited the $5 region twice, changing hands at $5.96 at one point in November 10 and going to as low as $5.69 on November 21.

Since then, the Chainlink network crypto asset has managed to recapture the $6 and $7 territories and is doing a great job at sustaining the latter.

  • Chainlink experienced a price correction that dissolved its 7% weekly gains
  • LINK is still in the midst of a price pump of more than 20% during the past two weeks
  • Chainlink network now has 20 successful integrations

In fact, according to tracking from Coingecko, at the time of this writing, the digital asset trades at $7.29 – a value that is 30% more than its currently monthly low.

Earlier Tuesday, the altcoin was sporting a weekly gain of 7%. However, as it entered a minor correction phase, the increase was trimmed to just almost 1%.

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Axie Infinity Price On A Tear With 22% Spike In Last 24 Hours – How Long Can This Last?

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The crypto declined by 2.8% during the last 24 hours but is still sitting on a 24% price pump over the last two weeks.

Although things might be looking a little bit good for Chainlink, investors and holders need to keep an eye on its whales as their market participation could easily pull the asset down once again.

A Quick Glance At Chainlink Metrics

It appears now that LINK holders have nothing to worry about especially that the asset’s Relative Strength Index (RSI) is still hovering above the 50-neutral zone.

However, the crypto’s Money Flow Index (MFI) has now settled in an overbought region after tremendous selling pressure was observed in the market.

Meanwhile, over the last two days, the observed market outflows among exchanges were higher than the inflows, giving the cryptocurrency the ability to sustain its upward momentum during the same period.

Source: TradingView

The demand for Chainlink token seemed to have outweighed the on-going selling pressure as evidenced by the higher number of addresses receiving it as compared to the addresses sending it, 2,207 and 893, respectively.

Although these point towards a bullish momentum, holders and investors need to be wary about LINK whales as those holding at least a million units are contributing to the selling pressure.

If these large investors continue to reduce their balances by selling their holdings, there’s a big chance that the asset’s price will plummet once again.

⬡ Chainlink Adoption Update ⬡

This week, there were 20 integrations of 5 #Chainlink services across 7 different chains: #Arbitrum, #Avalanche, #BNB Chain, #Ethereum, #Fantom, #Optimism, and #Polygon.

Check your Staking v0.1 eligibility now: https://t.co/Gdt5Fj7XGp pic.twitter.com/DUjh6RGmeM

— Chainlink (@chainlink) December 4, 2022

Some Positive Developments For Chainlink Ecosystem

To provide more security for the LINK network’s oracle infrastructure, the Chainlink Staking v0.1 is expected to go live next week.

This new feature is also deemed crucial in increasing demand for the cryptocurrency by convincing traders to hold rather than sell their coins.

The DeFi project also attained another milestone in its interoperability drive after achieving a total of 20 blockchain integrations including some with the biggest names in the industry such as Binance Smart Chain (BNB), Polygon (MATIC), Ethereum (ETH), Fantom (FTM), Optimism (OP) and Avalanche (AVAX).

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TRON Ecosystem To Undergo Changes – A Bane Or Boon To TRX Price?

2 years ago

LINK total market cap at $3.5 billion on the daily chart | Featured image: HBB Solutions, Chart: TradingView.com
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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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