What's up, folks! How's everything over there? Today I bring you some juicy gossip from the crypto world that makes you think. It turns out that Chainlink (LINK), that cryptocurrency that many have on their radar, is causing a stir. Although it has dropped 3% in the last 24 hours and is about 74% below its all-time high (oh my goodness!), the truth is that it has risen 2.4% over the week. Pure rollercoaster! 🎢
The thing is that those who are moving the needle, the "whales" (that is, the big investors with loads of cash), are buying LINK as if there were no tomorrow! 🤑 But, you know what? We, the retail investors, the ones with a few bucks to invest, are still not catching the signal! It's like we're on the moon while the big players are filling their pockets. 🌕
A guy from CryptoQuant, named "Banker", spilled the beans in a report he called "The LINK Accumulation Face-Off: Whales Build, Retailers Wait". What a title, very James Bond! 🕵️♂️ According to Banker, LINK is in a "meh" phase between $12 and $15. But the interesting part is that, while the price is sitting still, institutional investors (the whales) keep accumulating tokens. Meanwhile, we, the retailers, are like statues, not lifting a finger! 🧍♀️🧍♂️
This difference between what the big players do and what we small ones do is what's holding LINK back from taking off. It's a serious thing! More tokens are being taken out of exchanges than are being put in, around 100,000 LINK per week are being withdrawn. That's a lot! And when they are taken out of exchanges, it means people are holding them for the long term, waiting for prices to rise. Those who are doing this are the whales, that's for sure! 🎣
Even the active LINK addresses have remained between 28,000 and 32,000 per day, and the average daily transactions are about 9,000. They haven't recovered from the peaks we saw at the end of 2024! And that's with the use of Chainlink for oracles growing. Can you imagine?
So, what can we expect for the future of LINK? The expert Banker says that for this to get good and the price to really rise, we need small investors to get active, more active wallet addresses to start appearing, and the transaction volume to shoot up. If that happens and the price surpasses $15, hold on tight because the rise could be epic! 🚀 On the other hand, if the whales stop accumulating or start putting a lot of LINK into exchanges, the price could drop to $10. Oh no! 😫
Banker left us with a thought-provoking phrase: "Until catalysts arise, whales quietly build positions, echoing Bitcoin's consolidation in 2023 before its rise in 2024." So, my people, while we are contemplating whether to jump in or not, the whales are building their empire! Watch out for that! $LINK
