Chainlink token Inches Towards Annual Peak, Investor Confidence High
chainslink’s LINK token is edging towards another annual high, sitting at $26. Investor enthusiasm and wider adoption of its oracle network fuel this surge.
this month, Chainlink has shown robust growth.The newly introduced LINK reserves feature contributes significantly by channeling both on-chain and enterprise fees. The reserve now holds nearly 110,000 LINK tokens,valued at over $2.7 million at current prices.This move is proving lucrative as the average LINK cost basis sits at $19.65.
The total value secured on Chainlink has spiked to $93 billion,largely thanks to Ethereum’s network. On social media, the CEO mentioned this milestone.
- @Token_Relations shares Chainlink’s TVS growth and its implications.
chainlink continues nabbing big-name partnerships, with a recent deal with ICE (Intercontinental Exchange). This will see Chainlink’s tech support ICE’s forex and metals trading operations.
Currently, LINK futures open interest stands at a record $1.5 billion, showcasing heightened interest. Whale investors have accumulated around 5.61 million LINK tokens this month — a 68% jump, signaling strong demand.
Technical analysis suggests further gains. LINK price charts highlight a double-bottom pattern and a golden cross, pointing towards a bullish third phase of the Elliott Wave. With market indicators on the rise and a potential breakout above $27.18, LINK could hit $30.
