Chainlink (LINK) continues to outshine the top 10 crypto projects by market cap, recently breaking a five-month price barrier. According to Santiment, LINK just flipped $29 for the first time in over three years. The asset is up over 20% today in price and market cap, continuing its 100% climb over the past month. One of the biggest factors in this recent surge has been the activity of LINK whales, who are buying in on the surging cryptocurrency.
According to Santiment data, LINK whales have acquired a corresponding amount of tokens dumped on the market by retail investors. In the last two months alone, whales have accumulated $5.69 million worth of the coin. Currently, over 100,000 LINK tokens are owned by whales. Similarly, less than a hundred thousand LINK holders have dumped their tokens into the market. Market data indicates that these retail traders sold 5.67 million LINK from their collective wallets. This move by investors reveals impatience, panic-selling, or profit-taking before a potential price drop.
Furthermore, LINK’s latest upward swing could be due to a general market resurgence. Bitcoin (BTC) has reclaimed the $101,000 level and is inching closer to a new all-time high. Investor sentiment may pick up steam once again, with altcoins following BTC’s upward trajectory. Entering 2025, crypto investors are eying Chainlink’s native cryptocurrency as a potential must-have. Chainlink has already broken through since December, riding the bullish crypto market run. However, the asset is forming a bullish pattern that could mean huge gains come 2025.
Chainlink Price Prediction: Another 100% Climb?
One crypto analyst has expressed optimism about the Chainlink price revisiting its former peak of $50 in a new price prediction. Clifton Fx’s prediction was shared alongside a detailed price chart highlighting LINK’s historic performance, including its 2021 surge. The tweet underscores a promising rally for LINK, suggesting a breakout from a classic ascending triangle pattern.
The analyst shows the price steadily climbing, supported by an upward trendline. The resistance level appears to have been breached, signaling potential upside momentum. Additionally, Clifton Fx anticipates a rise of approximately 26%. The breakout scenario aligns with bullish market sentiments, suggesting a continuation of the upward trajectory.
Also Read: Bitcoin, Ethereum, Dogecoin Surge After U.S. Inflation Data—Top Analyst Eyes BTC ATH
According to CoinCodex’s price prediction, Chainlink (LINK) will continue to rally over the next few months. Despite the bullish outlook, the platform does not anticipate the asset to breach the $40 mark this year. According to CoinCodex analysts, LINK will hit $41.55 on Jan. 17, 2025. The platform further anticipates the asset to hit a new all-time high of $63.08 on Feb. 21, 2025. Hitting $63.08 from current price levels will entail a rally of about 136.52%.
Several analysts anticipate the crypto market will surge under Donald Trump’s leadership. Many expect an extended bull run over the next few years. Trump has named a White House crypto czar and a new crypto-lenient SEC chair. Under such market conditions; increased whale activity; and the further rise of BTC, LINK’s price could soon rise another 100% and perhaps more.
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