Chainlink (LINK) Sees Increased Developer Activity and Accumulation by Whales
Chainlink (LINK) has caught the attention of big market players as it continues to show strong performance in the cryptocurrency market. The LINK price is currently trading at $7.36 with a market cap of $3.9 billion, up 20% over the last month despite overall market consolidation. On-chain data provider Santiment notes that Chainlink’s activity on GitHub has significantly increased, making it one of the top 5 most actively developed assets. Additionally, large holders known as whales and sharks have accumulated over $192 million worth of LINK coins in just under four weeks.
Key Points:
- Chainlink’s activity on GitHub has increased, making it one of the top 5 most actively developed assets.
- Whales and sharks with 100K-10M $LINK now hold the most coins since December 2022.
- The price of Chainlink could potentially surge by more than 50% from its current value, according to analyst Michaël van de Poppe.
- Chainlink recently introduced its Cross-Chain Interoperability Protocol (CCIP) for early access users, improving cross-chain applications and services.
- The protocol has played a significant role in Chainlink’s collaboration with SWIFT, the global payment and messaging system used by banks.
Hot Take: Chainlink’s increased developer activity and accumulation by whales show strong confidence in the project. With the introduction of the Cross-Chain Interoperability Protocol and collaboration with SWIFT, Chainlink is paving the way for enhanced cross-chain functionality and adoption. The bullish price prediction from analyst Michaël van de Poppe further adds to the positive sentiment surrounding Chainlink.
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