Chainlink (LINK): New Whale Activity Hints at Potential Price Surge
Over the past 72 hours, Chainlink (LINK) has seen an uptick in whale activity, signaling a potential price surge for the token. The asset is up 27% in the past month, despite a 25% downturn in the last seven days. Recently, whales have withdrawn a massive 362,380 LINK, valued at approximately $8.19 million, from Binance, perhaps preparing for a price breakout,
Chainlink’s current price action suggests that a shift in momentum could be on the horizon. The whale activity, combined with several bullish metrics, points to the possibility of a price rebound, especially if LINK can sustain its current $21 support level. Maintaining stability above this price could mean huge gains come the expected crypto surge of 2025.
LINK to Boom in 2025 Following Last-Minute 2024 Whale Movements?
In cryptocurrency, whale movements always create speculation about incoming price shifts. These shifts could be positive or negative, as whale movements could be buys or preparations to sell a crypto asset. For Chainlinlk though, the recent withdrawal of a large amount of LINK from Binance has drawn lots of attention. Several wallets withdrew large sums of LINK from the exchange, hinting at a bullish interest in the altcoin.
The whale activity around LINK increasing signals positive potential for the asset, thus raising price projections. Despite its recent downturn, the whale movements suggest buying the dip on LINK, meaning a rise is imminent in the whales’ eyes. Cryptocurrency price prediction platform CoinCodex still has high hopes for what LINK can do when the calendar turns to 2025. Specifically, they predict the token will reclaim the $30 mark as early as January, a 50% pump from the current price. That is just the beginning, however, as it may be poised to skyrocket from that level.
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Whale activity around a token doesn’t just affect price predictions, but prices themselves. A wave of bulls swooping in on LINK makes the remaining supply more valuable, which could tick prices upwards. This lines up with CoinCodex’s projections of an upcoming surge for Chainlink’s cryptocurrency.
Furthermore, CoinCodex is predicting a 160% increase from Chainlink LINK’s current position to take place in May 2025. That will see the asset reach a monthly high of $59. That figure is expected to be its yearly high, yet, it is still expected to remain above $30 for most of the year.
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