Claim BonusChainlink (LINK) Shoots to $8 Amid High Whale Activity
Over the last weekend, oracle service provider Chainlink (LINK) made a strong move rallying all the way to $8. As of press time, LINK is trading at a price of $7.89 with a market cap of $3.8 billion.
The LINK price rally over the weekend came on the backdrop of strong whale activity. As per on-chain data provider Santiment, the LINK whale transactions touched a 4-month high over the weekend. It added:
“Chainlink whales have gotten quite active this weekend as market prices have teased the $8 level a few times. Saturday saw 33 different $LINK transactions exceeding a value of $1 million. This was the highest whale activity day since June 27th”.
Over the last month, Chainlink (LINK) has been on the radar of investors and crypto traders. The whale activity has remained throughout strong this month of October.
Currently, $8 serves as a strong resistance for Chainlink (LINK). A breakout above the same could set up LINK for a strong rally ahead. For a long time, Chainlink has been consolidating strong in the $6-$8 range.
In a fresh competition to Chainlink, crypto exchange Binance launched its Oracle Network last week.
Chainlink and Other Altcoins
Over the last week, the altcoin space saw a strong rally. Amid the memecoin fest, both Dogecoin (DOGE) and Shiba Inu (SHIB) saw their price pumping significantly. The DOGE is already trading at more than 100% gains on the weekly chart.
However, it has now entered a sharp correction. As of press time, Dogecoin (DOGE) is trading 8.68% down at a price of $0.12 with a market cap of $13.8 billion.
In addition to memecoin, Ethereum (ETH) witnessed a strong rally and is up nearly 20% on the weekly chart. The world’s second-largest crypto has shown clear price dominance over Bitcoin throughout this month. On-chain data provider Santiment reports:
“Ethereum’s price dominance over #Bitcoin and most of #crypto has continued as October is coming to a close. This has come following a spike in new $ETH addresses created. Address activity will likely need to recover for a confident continued rally”.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Crypto ETF News: BNB Gets Institutional Boost as Binance Coin Replaces Cardano In Grayscale’s GDLC Fund
- Fed Rate Cut: Fed’s Barkin Signals Support for Rate Pause Amid Inflation Concerns
- Dogecoin Price Pumps As Investors React to Elon Musk’s DOGE Moon Mission Post
- Is Trump Launching a New Coin? TMTG Teases Token Debut as Traders Turn Bullish
- Grayscale Insiders Are Quietly Selling XRP and Solana amid ETF Outflows: Report
- Gold and Silver Prices Turn Parabolic in One Day: Will Bitcoin Mirror the Move?
- Cardano Price Prediction as the Planned CME’s ADA Futures Launch Nears
- HYPE Price Outlook After Hyperliquid’s HIP-4 Rollout Sparks Prediction-Style Trading Boom
- Top 3 Meme coin Price Prediction: Dogecoin, Shiba Inu And MemeCore Ahead of Market Recovery
- Here’s Why Pi Network Price Just Hit an All-Time Low
- Crypto Events to Watch This Week: Will the Market Recover or Crash More?
