Chainlink Experiences Surge In Whale Activity And Price Increase

04/12/2024 18:17

According to U.Today, Chainlink (LINK) has experienced a notable surge in whale activity and price over the past 24 hours. Whale activity on the Chainlink network has increased by an impressive 1,219%, coinciding with a 31% rise in the price of LINK. As of the latest update, LINK is trading at $13.47, following a significant rise in the previous trading session. The cryptocurrency saw its price jump from $18.58 to $26.92, forming a substantial green daily candlestick on Monday. Currently, LINK is up 28% in the last 24 hours, reaching $25.12, and has increased by 47.51% over the past week. IntoTheBlock has reported a 1,219.46% increase in the volume of large transactions, defined as transfers exceeding $100,000, for Chainlink in the last 24 hours. This surge is characterized by large transactions totaling $858.08 million, or 34.34 million LINK. The increase in large transaction volume indicates heightened activity among whales, who may be either accumulating LINK or making strategic moves to benefit from the price rally. This significant rise in whale activity suggests a deliberate effort to capitalize on the current market conditions. Chainlink continues to expand its ecosystem through high-profile integrations and collaborations. The network has partnered with major entities such as Swift, Euroclear, and leading banking and capital markets institutions. Brazil's central bank is utilizing Chainlink to develop a CBDC project for trade finance in collaboration with Microsoft. Additionally, Chainlink has launched an industry initiative with market infrastructures like Euroclear and Swift, along with prominent financial institutions including UBS, Franklin Templeton, Wellington Management, CACEIS, Vontobel, and Sygnum Bank. This initiative aims to integrate advancements in AI, Oracles, and blockchains to address the lack of real-time standardized data in fragmented markets, particularly in Europe. Furthermore, Chainlink's CCIP private transactions have recently gone live, with ANZ Bank being one of the first to adopt this capability.

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Chainlink Experiences Surge In Whale Activity And Price Increase

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