Crypto analyst Aaron Arnold says Chainlink is among the projects with great potential going forward. Crypto.com (CRO), Injective Protocol (INJ), Sandbox (SAND), and Binance Coin (BNB) are other altcoins that Arnold is optimistic about. The analyst thinks that these projects are making progress in terms of network growth and a fresh upswing for the crypto market could push prices to new heights. In his recent altcoin analysis, he shared the following analysis, which he put Chainlink on his agenda.
Aaron Arnold says LINK is low priced
Chainlink’s price has dropped almost 20% over the past seven days and is currently trading around $27.85. According to CoinGecko, its price has dropped by about 47% since reaching the ATH level of $52.70 on May 10 this year. Looking at the intraday action, LINK manages to hold losses at 2%, albeit shaken by the market-wide declines. Despite this, Arnold says Chainlink has the potential to see sustained price increases. In a YouTube video released on November 18, the analyst stated that it would be wrong to delete LINK:
Especially when you look at the ecosystem, I don’t think Chainlink will disappear anytime soon.
cryptocoin.com Aaron Arnold, whose analysis we share with you, adds that the 13 billion dollar project in the 19th place grew tremendously in the third quarter and ranks above most of its competitors in the same Blockchain-based protocols industry.
Santiment says altcoin whales are gathering around LINK
On November 15, LINK was trading around $34, and on-chain data provider Santiment revealed that LINK whales are taking advantage of a price drop to significantly increase their holdings. The firm says:
Currently, there are 64 addresses with LINK between 1 million and 10 million. In just the past 4 days, these whale wallets have added 1.89% of Chainlink supply to their cumulative bags. They currently make up 18.01% of the total supply, a new ATH has been recorded.
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