Chainlink (LINK) price with 17% dominating altcoin rally, is the next target $20?
🔵 The price dominance of the link chain (LINK) has increased by 17% in the last 24 hours. In the last week, the price of LINK has been superior to other major altcoins with an increase of 30%. This price increase also comes against the backdrop of strong accumulation by whales.
In a recent analysis by on-chain data provider, Chainlink (LINK) has emerged as the leader among altcoins driven by significant on-chain activity.
Santiment data shows that previously inactive wallets have become active, generating the largest increase in age consumption for Chainlink, at 5.38 billion. This influx of links into network circulation has played an important role in the recent rise in the price of digital currency.
Additionally, the analysis shows that the Chainlink network has experienced partial liquidation of wallets, a phenomenon often associated with fear, uncertainty, and doubt (FUD).
Such liquidations can contribute to increased price volatility and, paradoxically, may lead to further price increases as investors look to capitalize on market opportunities.
@sanor016
