- Chainlink has been recovering steadily over the past month.
- Dreams Quest announced several Chainlink service partnerships.
The current quarter of 2021 seems historically positive for crypto. With a flurry of green candles, the crypto market recaptured the $2.5 trillion milestones. Meanwhile, Chainlink has been recovering steadily over the past month as whales acquired LINK tokens. Its revolutionary partnerships are positioning it for huge price action!
Santiment recently reported that big wallet addresses (1 million-10) purchased 167.7 million tokens worth $431 million. Whales currently have 25% of the entire circulating supply.
🔗🐳 #Chainlink sits at a modest $25.70, but whale traders are staying busy & adding to their bags. Addresses with 1M to 10M $LINK now own 167.7M tokens worth $431M. In the last 4 months, through this volatility, these whales have added 15.2% more $LINK. https://t.co/MJcXwUTvz0 pic.twitter.com/N8xqjE240s
— Santiment (@santimentfeed) October 19, 2021
Despite the recent price decrease, whale traders have amassed 16.8% of the overall link supply. Increasing asset scarcity will boost price momentum in the coming days.
New Partnerships and Improvements
However, the cryptocurrency is working on new partnerships and improvements to increase the price. In the past 24-hours, the platform teamed up with three renowned IT companies.
To assist traders in buying characters, goods, and equipment, Chainlink collaborated with POCOLAND. Dreams Quest announced several Chainlink service partnerships to incorporate its dynamic NFT gaming experience. Both chains linked up on the same day. The latter was with BaconDAO. This integration will provide a tamper-proof randomness source on-chain.
Chainlink is now trading at $25.90, up 0.96 percent in the past day. On the 4-hour chart, the cryptocurrency has created an M-shaped pattern and is about the line of breaking down. In September 2021, the altcoin created a W pattern twice. But the asset failed to break out. Hence, with RSI and MACD showing positive signs, the asset may consolidate before resuming an advance.
With further positive optimism, the price may break through $33 and reach the next ATH. With more whale piling and less sell-off pressure, the cryptocurrency may soon reach new milestones. According to CoinMarketCap, the Chainlink (LINK) price today is $26.01 USD with a 24-hour trading volume of $685,264,458 USD.
Recommended for You
