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Trader Says Ethereum Rival That’s Exploded Over 300% To ‘Keep Running,’ Unveils Targets for Chainlin
A widely followed crypto analyst says that one Ethereum (ETH) rival that’s skyrocketed by over 300% this year still has more room to rally.
Pseudonymous crypto trader Altcoin Sherpa tells his 194,200 followers on the social media platform X that smart contract platform Solana (SOL) will likely continue surging up in price until proven otherwise.
The strategist also says he’s not sure what will become of bankrupt crypto exchange FTX’s holdings of Solana worth $1.16 billion as of August 31st.
“SOL: I think that $35-$32 are buy-the-dip zones. I don’t know what happens with FTX supply but this should keep running until shown otherwise.”
Solana is trading for $39.83 at time of writing, a staggering 300% rise since the start of 2023 when it was moving for just $9.97.
Moving on to the decentralized crypto exchange (DEX) platform SushiSwap (SUSHI), Altcoin Sherpa says that accumulating the digital asset at $0.91 seems like a good idea with the 0.5 Fibonacci level offering support.
“SUSHI: I think buying $0.91 seems pretty solid. S/R(support and resistance) level, etc.”
At time of writing, SUSHI is worth $1.06.
The crypto strategist concludes his analysis by noting that traders should keep an eye on the $9.50 price level of the decentralized oracle provider Chainlink (LINK).
“LINK: come on… let’s fill the rest of my bids, please. $9.50 is the area.”
At time of writing, LINK is trading for $11.32.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Eth #Chainlink’s $ETH $LINK
Pseudonymous crypto trader Altcoin Sherpa tells his 194,200 followers on the social media platform X that smart contract platform Solana (SOL) will likely continue surging up in price until proven otherwise.
The strategist also says he’s not sure what will become of bankrupt crypto exchange FTX’s holdings of Solana worth $1.16 billion as of August 31st.
“SOL: I think that $35-$32 are buy-the-dip zones. I don’t know what happens with FTX supply but this should keep running until shown otherwise.”
Solana is trading for $39.83 at time of writing, a staggering 300% rise since the start of 2023 when it was moving for just $9.97.
Moving on to the decentralized crypto exchange (DEX) platform SushiSwap (SUSHI), Altcoin Sherpa says that accumulating the digital asset at $0.91 seems like a good idea with the 0.5 Fibonacci level offering support.
“SUSHI: I think buying $0.91 seems pretty solid. S/R(support and resistance) level, etc.”
At time of writing, SUSHI is worth $1.06.
The crypto strategist concludes his analysis by noting that traders should keep an eye on the $9.50 price level of the decentralized oracle provider Chainlink (LINK).
“LINK: come on… let’s fill the rest of my bids, please. $9.50 is the area.”
At time of writing, LINK is trading for $11.32.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Eth #Chainlink’s $ETH $LINK
Chainlink Weekend Price: Will LINK Enter Bearish Trend?
Chainlink (LINK) now finds itself at a critical juncture, with its price up against a major resistance level that could determine its next major move. LINK has seen significant volatility in recent months, breaking a long period of consolidation. However, the path ahead remains unclear as bullish and bearish signals battle for dominance.
LINK spent over 14 months trading below the symbolic $10 level before finally breaking higher in late 2022. This surge saw LINK reclaim double-digit prices after much anticipation. Yet after piercing through the $17 region close to the year’s end, LINK soon retreated rapidly. It now tests a pivotal resistance for the fourth time, near $16.60.
Will Chainlink enter a bearish trend?
LINK’s price has been bouncing within what experts call a “distribution phase,” forming lower highs and declining trading volumes. The recent bullish breakout reversed at the $17.60 level post-Christmas, sparking fears of a distribution consolidation.
Some analysts remain cautiously optimistic, pointing to a key support area around $10.25 that could halt any deep pullbacks.
However, bearish signals in LINK’s Ichimoku chart and its broader failure to sustain above its 50-day simple moving average indicate growing downside risks. A continuation of this breakdown could pave the way for a drop towards or even below $8.
Cryptocurrency experts at Changelly have given their price prediction for Chainlink for the weekend. According to the analysts, LINK is forecast to reach a minimum of $15.84 and a maximum of $21.65 this weekend. The average price of LINK is expected to reach $16.
If LINK closes firmly above $17.68, analysts project a fresh bout of upside, unlocking new highs. However, failure to conquer resistance could confirm the start of a deeper bearish trend. LINK has proven sensitive to broader crypto market moves, meaning Bitcoin’s trajectory could also prove decisive.
#Chainlink’s #dyor
Chainlink (LINK) now finds itself at a critical juncture, with its price up against a major resistance level that could determine its next major move. LINK has seen significant volatility in recent months, breaking a long period of consolidation. However, the path ahead remains unclear as bullish and bearish signals battle for dominance.
LINK spent over 14 months trading below the symbolic $10 level before finally breaking higher in late 2022. This surge saw LINK reclaim double-digit prices after much anticipation. Yet after piercing through the $17 region close to the year’s end, LINK soon retreated rapidly. It now tests a pivotal resistance for the fourth time, near $16.60.
Will Chainlink enter a bearish trend?
LINK’s price has been bouncing within what experts call a “distribution phase,” forming lower highs and declining trading volumes. The recent bullish breakout reversed at the $17.60 level post-Christmas, sparking fears of a distribution consolidation.
Some analysts remain cautiously optimistic, pointing to a key support area around $10.25 that could halt any deep pullbacks.
However, bearish signals in LINK’s Ichimoku chart and its broader failure to sustain above its 50-day simple moving average indicate growing downside risks. A continuation of this breakdown could pave the way for a drop towards or even below $8.
Cryptocurrency experts at Changelly have given their price prediction for Chainlink for the weekend. According to the analysts, LINK is forecast to reach a minimum of $15.84 and a maximum of $21.65 this weekend. The average price of LINK is expected to reach $16.
If LINK closes firmly above $17.68, analysts project a fresh bout of upside, unlocking new highs. However, failure to conquer resistance could confirm the start of a deeper bearish trend. LINK has proven sensitive to broader crypto market moves, meaning Bitcoin’s trajectory could also prove decisive.
#Chainlink’s #dyor
Telecom giant #Vodafone’s Digital Asset Broker (DAB) revealed that it has conducted a proof of concept in collaboration with #Chainlink Labs, Sumitomo Corporation, and InnoWave to alleviate issues pertaining to the global trade ecosystem.
#Chainlink’s Cross-Chain Interoperability Protocol (CCIP) was used to reduce inefficiencies in the global commerce ecosystem. The collaborative effort saw the companies using #IoT devices with CCIP to transfer crucial trade documents.
DAB states that this process can increase security and interoperability, as one single interface can be used to transfer data between private and public blockchains.
In addition to the proof of concept, DAB has also joined Chainlink, the leading oracle provider, as a node operator.
“Onboarding a world-class infrastructure provider like Vodafone DAB to the Chainlink Networks’ node operator ecosystem helps bring more secure off-chain data and computation to the Chainlink Network to support the wider blockchain economy,” Chainlink Labs Head of Capital Markets Thomas Trepanier said.
Vodafone DAB was established in 2022 and transferred to a newly formed entity in May 2023, with Vodafone owning an 80% stake and Japanese firm Sumitomo holding the remaining 20%.
On Aug. 31, Swift, the global interbank messaging service, released a report showcasing how many financial institutions used Chainlink’s CCIP to transfer tokenized assets between blockchains in a safe and secure manner.
$LINK has been one of the top-performing tokens in the recent rally, up 48% in the past week.
#Chainlink’s Cross-Chain Interoperability Protocol (CCIP) was used to reduce inefficiencies in the global commerce ecosystem. The collaborative effort saw the companies using #IoT devices with CCIP to transfer crucial trade documents.
DAB states that this process can increase security and interoperability, as one single interface can be used to transfer data between private and public blockchains.
In addition to the proof of concept, DAB has also joined Chainlink, the leading oracle provider, as a node operator.
“Onboarding a world-class infrastructure provider like Vodafone DAB to the Chainlink Networks’ node operator ecosystem helps bring more secure off-chain data and computation to the Chainlink Network to support the wider blockchain economy,” Chainlink Labs Head of Capital Markets Thomas Trepanier said.
Vodafone DAB was established in 2022 and transferred to a newly formed entity in May 2023, with Vodafone owning an 80% stake and Japanese firm Sumitomo holding the remaining 20%.
On Aug. 31, Swift, the global interbank messaging service, released a report showcasing how many financial institutions used Chainlink’s CCIP to transfer tokenized assets between blockchains in a safe and secure manner.
$LINK has been one of the top-performing tokens in the recent rally, up 48% in the past week.
TOP 5 Web3 Leading Projects : Reshaping the Digital Era
Leading Web3 Projects: Pioneers of the Digital Future
Web3, characterized by decentralized technologies, is dramatically transforming the internet landscape. These projects are not just redefining digital interaction; they’re setting new standards for security, privacy, and functionality. Their revolutionary approach is evident across various industries, including finance, social media, and data management, making digital interactions more equitable, secure, and user-centric.
Explore the full potential of Web3 technologies and their impact on various sectors. Stay informed about the latest developments in this transformative digital era. Join the conversation and share your thoughts on how these projects are shaping the future of the internet. For Full article visit techlooters
Key Leading Web3 Projects
Ethereum
As the second-largest cryptocurrency, #Ethereum’s developments in 2023 are noteworthy. Key advancements include the introduction of staked ether withdrawals, proto-danksharding for improved scalability, and efforts to maintain its decentralized ethos amidst censorship and centralization challenges.
The Flare Network
Launched in 2023, #FlareNetwork stands out for its high-performance, decentralized cross-chain platform, focusing on scalability and interoperability. Its integration with the Ethereum Virtual Machine (EVM) enhances its compatibility within the Ethereum ecosystem.
Ocean Protocol
This project is revolutionizing data exchange with a decentralized approach, empowering data providers and fostering a tokenized economy. #OceanProtocol impact spans various industries, from healthcare to AI research.
Chainlink
Continuing its role in integrating real-world data with blockchain technology, #Chainlink’s decentralized oracle network is pivotal for the functionality of smart contracts. It focuses on expanding its network to support more blockchains and applications, contributing significantly to the Web3 domain.
The Graph (GRT)
The Graph #GRT is revolutionizing data access on blockchains, offering an open-source protocol for efficient data indexing and querying. Recent developments include AI-assisted querying and a focus on scalability and efficiency.
Final Thoughts
These leading Web3 projects are not just technological breakthroughs; they’re catalysts for societal change, driving a shift towards a more decentralized and user-empowered digital world. They showcase the immense potential of blockchain technology and decentralized systems, laying the foundation for a more connected, decentralized future.
Web3, characterized by decentralized technologies, is dramatically transforming the internet landscape. These projects are not just redefining digital interaction; they’re setting new standards for security, privacy, and functionality. Their revolutionary approach is evident across various industries, including finance, social media, and data management, making digital interactions more equitable, secure, and user-centric.
Explore the full potential of Web3 technologies and their impact on various sectors. Stay informed about the latest developments in this transformative digital era. Join the conversation and share your thoughts on how these projects are shaping the future of the internet. For Full article visit techlooters
Key Leading Web3 Projects
Ethereum
As the second-largest cryptocurrency, #Ethereum’s developments in 2023 are noteworthy. Key advancements include the introduction of staked ether withdrawals, proto-danksharding for improved scalability, and efforts to maintain its decentralized ethos amidst censorship and centralization challenges.
The Flare Network
Launched in 2023, #FlareNetwork stands out for its high-performance, decentralized cross-chain platform, focusing on scalability and interoperability. Its integration with the Ethereum Virtual Machine (EVM) enhances its compatibility within the Ethereum ecosystem.
Ocean Protocol
This project is revolutionizing data exchange with a decentralized approach, empowering data providers and fostering a tokenized economy. #OceanProtocol impact spans various industries, from healthcare to AI research.
Chainlink
Continuing its role in integrating real-world data with blockchain technology, #Chainlink’s decentralized oracle network is pivotal for the functionality of smart contracts. It focuses on expanding its network to support more blockchains and applications, contributing significantly to the Web3 domain.
The Graph (GRT)
The Graph #GRT is revolutionizing data access on blockchains, offering an open-source protocol for efficient data indexing and querying. Recent developments include AI-assisted querying and a focus on scalability and efficiency.
Final Thoughts
These leading Web3 projects are not just technological breakthroughs; they’re catalysts for societal change, driving a shift towards a more decentralized and user-empowered digital world. They showcase the immense potential of blockchain technology and decentralized systems, laying the foundation for a more connected, decentralized future.
#Chainlink’s Active Addresses Surge by 220% as #LINK Price Aims For Immense Upsurge
Scam: $4.4 million worth of this currency was stolen.
_The owner of #Chainlink’s (LINK) tokens lost assets worth $4.4 million due to a hacker attack by a group known as #Pink.Drainer . According to information available from Scam Sniffer. The attackers tricked the user into signing a transaction related to the BoostAllowance functionality. Immediately after that, the victim lost 275,700 #LINK through two transfers. #The.BoostAllowance function allows you to limit the number of tokens that the user allows another wallet to transfer from his address. After that, 68,925 tokens were transferred to a cryptocurrency wallet. Which Etherscan calls “PinkDrainer: Wallet 2”. The remaining 206,775 LINK coins were sent to another address. Scam Sniffer representatives confirmed that the theft of assets is linked to the activities of the Pink Drainer group. However, experts were unable to determine exactly how the attackers forced the user to agree to the transfer of tokens. Cryptocurrency investigator ZachXBT noted that the stolen funds were transferred to Ethereum and passed through the eXch service. “The stolen funds were sold for ETH and are currently being laundered through eXch.” ZachXBT, a crypto whistleblower believes that the Pink Drainer hackers are responsible for several high-profile attacks on various platforms. We discuss incidents related to the Evomos, Pika Protocol and Orbiter Finance projects. The group was also involved in a scam in which attackers posed as cryptocurrency journalists. In 2023, Pink Drainer hackers stole $18.7 million from 9,068 users, according to Dune Analytics. Pink Drainer hackers stole $4.4 million from Link In total, hackers stole $2 billion worth of cryptocurrencies in 2023.
One of the biggest cryptocurrency thefts this year was the Euler Finance protocol hack. During the attack, hackers stole nearly $200 million. There have also been attacks on BonqDAO, and the cryptocurrency trading platform Poloniex. and the Atomic Wallet cryptocurrency wallet.
#follow To see more breaking news 🚀🔥
_The owner of #Chainlink’s (LINK) tokens lost assets worth $4.4 million due to a hacker attack by a group known as #Pink.Drainer . According to information available from Scam Sniffer. The attackers tricked the user into signing a transaction related to the BoostAllowance functionality. Immediately after that, the victim lost 275,700 #LINK through two transfers. #The.BoostAllowance function allows you to limit the number of tokens that the user allows another wallet to transfer from his address. After that, 68,925 tokens were transferred to a cryptocurrency wallet. Which Etherscan calls “PinkDrainer: Wallet 2”. The remaining 206,775 LINK coins were sent to another address. Scam Sniffer representatives confirmed that the theft of assets is linked to the activities of the Pink Drainer group. However, experts were unable to determine exactly how the attackers forced the user to agree to the transfer of tokens. Cryptocurrency investigator ZachXBT noted that the stolen funds were transferred to Ethereum and passed through the eXch service. “The stolen funds were sold for ETH and are currently being laundered through eXch.” ZachXBT, a crypto whistleblower believes that the Pink Drainer hackers are responsible for several high-profile attacks on various platforms. We discuss incidents related to the Evomos, Pika Protocol and Orbiter Finance projects. The group was also involved in a scam in which attackers posed as cryptocurrency journalists. In 2023, Pink Drainer hackers stole $18.7 million from 9,068 users, according to Dune Analytics. Pink Drainer hackers stole $4.4 million from Link In total, hackers stole $2 billion worth of cryptocurrencies in 2023.
One of the biggest cryptocurrency thefts this year was the Euler Finance protocol hack. During the attack, hackers stole nearly $200 million. There have also been attacks on BonqDAO, and the cryptocurrency trading platform Poloniex. and the Atomic Wallet cryptocurrency wallet.
#follow To see more breaking news 🚀🔥
📈💫 Chainlink's Trajectory: Eyes Set on $20 as LINK's Bullish Outlook Unfolds for 2024! 🚀🔮
As Chainlink's price trajectory targets the $20 mark, speculation mounts regarding LINK's sustained bullish momentum throughout 2024. Here's an in-depth exploration of this captivating forecast! 📈🔍
🎯 Aiming for $20 🎯💰
Chainlink's ascent toward the $20 milestone signifies a potential surge, drawing attention and expectations within the crypto community as LINK enthusiasts anticipate this significant price target.
🐂 Sustaining Bullish Momentum 🌟📈
The forecast prompts discussions about LINK's ability to maintain its bullish streak, sparking optimism and contemplation among investors regarding the cryptocurrency's trajectory in the upcoming year.
🔮 Predictions for 2024 💭🚀
Amidst forecasts and market analyses, predictions for LINK's performance in 2024 surface, hinting at possibilities for sustained growth, technological advancements, and potential catalysts driving Chainlink's value.
💡 Market Sentiments and Expectations 🌐💬
The anticipated climb to $20 and the broader bullish outlook for Chainlink steer conversations within the crypto sphere, influencing sentiments and shaping expectations for LINK's future.
As Chainlink aims for the $20 mark and forecasts suggest a bullish journey ahead, the crypto community awaits with anticipation, speculating on LINK's potential performance and technological developments throughout 2024. 🚀🔮
#ChainlinkUpdate #Chainlink’s
As Chainlink's price trajectory targets the $20 mark, speculation mounts regarding LINK's sustained bullish momentum throughout 2024. Here's an in-depth exploration of this captivating forecast! 📈🔍
🎯 Aiming for $20 🎯💰
Chainlink's ascent toward the $20 milestone signifies a potential surge, drawing attention and expectations within the crypto community as LINK enthusiasts anticipate this significant price target.
🐂 Sustaining Bullish Momentum 🌟📈
The forecast prompts discussions about LINK's ability to maintain its bullish streak, sparking optimism and contemplation among investors regarding the cryptocurrency's trajectory in the upcoming year.
🔮 Predictions for 2024 💭🚀
Amidst forecasts and market analyses, predictions for LINK's performance in 2024 surface, hinting at possibilities for sustained growth, technological advancements, and potential catalysts driving Chainlink's value.
💡 Market Sentiments and Expectations 🌐💬
The anticipated climb to $20 and the broader bullish outlook for Chainlink steer conversations within the crypto sphere, influencing sentiments and shaping expectations for LINK's future.
As Chainlink aims for the $20 mark and forecasts suggest a bullish journey ahead, the crypto community awaits with anticipation, speculating on LINK's potential performance and technological developments throughout 2024. 🚀🔮
#ChainlinkUpdate #Chainlink’s
