Crypto markets appear to be currently undergoing some stabilization after making strong gains over the past week. However, amid this short-term respite in the broader market, certain digital assets are still rising and attracting attention. In this context, while whales (investors holding large amounts of crypto assets) continue to accumulate, some cryptocurrencies such as Chainlink (LINK) are exhibiting a significant price increase.
Chainlink’s price exceeded $20, the highest level in the last two years. Notably, the altcoin reached its highest price since January 2022, rising above $20 for the first time during this period. This apparent rise of Chainlink was brought about by a combination of factors in the cryptocurrency world.
Chainlink Momentum Continues
According to CoinGecko data, Chainlink (LINK) recorded a significant increase, rising to $ 20.69 during the day as of Monday morning. This has been a notable development in the cryptocurrency market recently. LINK has surged more than 40% in the last month, making it one of the top performers among crypto assets.
On February 11, analytics firm Lookonchain published in the report, stated that there was a whale effect behind this increase in LINK’s price. According to the report, in the last six days, this whale purchased 5,587,368 LINK worth a total of $112 million from 55 different addresses on the Binance exchange. This situation stands out as one of the factors affecting the sudden rise in LINK’s price.
This rapid rise of Chainlink also had a wide impact on crypto social media. “Satoshi Flipper,” one of the leading crypto phenomena, said on February 11 that LINK’s price movements point to a historical period in the future and that it still carries great potential from this point on. He also stated that the “Satoshi Flipper” altcoin price could still easily increase 10 times:
“This is not only one of the most important projects in the field, but also one of the most undervalued and least risky. “I feel very comfortable investing as much capital as I want here.”
You can follow the current price movement here.
