$LINK
Chainlink (LINK) has experienced a notable price increase, rising 7.22% to $24.96 in the past 24 hours. This price increase has caused the token to decrease by approximately 10.8% from the three-year peak reached in January 2022. The cryptocurrency market in general has seen a significant recovery in recent weeks, driven by expectations of regulatory changes in the United States. Bitcoin (BTC) has surpassed the $100,000 mark, while Ethereum (ETH), Solana (SOL), and other altcoins have also recorded impressive gains.
The recent price surge of Chainlink is said to be due to increased whale activity on its network. This activity surged by 1,219%, coinciding with a sudden 31% increase in the price of LINK, reaching $25.12 in a short time. Despite this increase, the price has stabilized again. Notably, there seems to be very little retail FOMO (Fear of Missing Out) around LINK, which suggests that the market is developing contrary to the expectations of the crowd. This lack of retail enthusiasm could likely fuel future price increases in the long term.