LINK Regains $23, It Can Thrive as Long as These Two Conditions Are Fulfilled: Santiment

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Yuri molchan

Chainlink has returned to the $ 23 level as the new week has started, Santiment’s team offers two conditions in which the LINK price is likely to prosper.

Chainlink has regained the $ 23 level that it has not seen since October. According to a recent tweet from Santiment, LINK, which is ranked 20th, managed to do so due to sustained negative investor sentiment since October.

The analysis team has suggested two necessary conditions that, if met, are likely to allow LINK to thrive in the future. Those are limited euphoria and high FUD. As long as these two conditions are met, LINK will thrive, according to Santiment’s tweet.

LINK price action this year

Along with many altcoins, LINK hit a new all-time high in May this year, when the flagship cryptocurrency Bitcoin soared above the $ 63,000 level. Before that, Tesla CEO Elon Musk managed to first announce that the company began accepting BTC as payment for e-cars and then closed those payments due to environmental issues related to mining.

LINK hit an all-time high of $ 52.88 on May 10. Since then, it fell to a low of $ 13.78 on July 20, and after that, the highest price marks that Chainlink coin has been able to hit have been $ 34, on September 6 and November 6. eleven.

Whale ETH buys $ 1 million from LINK

According to a recent tweet posted by WhaleStats, an Ethereum whale, owner of the 128th-ranked 0xc333e80ef2dec2805f239e3f1e810612d294f771 wallet, has purchased 45,999 LINK for $ 1,034,075.

LINK is the third largest participation in the wallet of this whale, worth $ 10,659,814. However, this cryptocurrency holder definitely favors USD-backed stablecoins, as position number two in his wallet is held by Tether’s USDT ($ 33,408,654 in total), and position four is held by USDC (worth of $ 5,890,050).

The largest holding here is Ethereum, of which the whale has a whopping $ 302,199,360 (74,464 ETH), which represents 84.35% of its total cryptocurrency holdings.

The total value of the whale’s crypto assets in fiat is $ 358,240,165.

Whales busy grabbing LINK

Earlier this fall, U.Today covered that whales have roughly $ 431 million in LINK after they added 15.2% of LINK’s supply to their wallets on the dive.

Those are wallets that have between 1 million and 10 million LINKs. In October, they had 167.7 million Chainlink coins.


Source: https://u.today/link-regains-23-it-can-thrive-as-long-as-these-two-conditions-are-fulfilled-santiment

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