“Chainlink Price Surges 10% to $14.85“
Chainlink has been on an unstoppable rally, with the LINK price reaching close to $15 for the first time in 19 months. This surge has extended its weekly gains to 25% and monthly gains to an impressive 90%. On-chain data provider Santiment reported that Chainlink continues to outpace the rest of the crypto sector, with wallets holding 10,000 to 10 million $LINK accumulating tokens.
“Analysts Predict $20 Price Target“
Despite the surge, the LINK price faces a crucial resistance at $18. However, it has climbed multiple ranks over the past few weeks and is now the 12th largest cryptocurrency with a market cap of over $8 billion. Analysts are already giving free Chainlink price targets of $20.
“Growing Institutional Participation in Chainlink Rally“
There’s a strong sign of growing institutional participation in Chainlink during this rally. Grayscale’s Chainlink Trust shares have surged to a staggering 200% premium compared to the spot LINK markets. Each GLNK share represents only $12 worth of LINK, making it nearly three times more expensive than the actual value of the assets it holds.
“Hot Take: Chainlink’s Unstoppable Rally Continues“
Chainlink’s recent surge in price and growing institutional participation show no signs of slowing down. With analysts predicting even higher price targets and significant interest from institutional investors, it seems that Chainlink’s rally is far from over. As always, do your market research before investing in cryptocurrencies.
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