"Do investors think LINK is one of the potential cryptos for the long term?"
In recent times, Chainlink (LINK) which has successfully shown significant growth has not only signed agreements with various types of companies but the services it provides are also increasing.
In addition, development activities on its network also saw a surge and this means that LINK has made various efforts to thrive globally in the future.
Like to be informed that many big investors have already started to be interested in LINK when its activity experienced a surge, where whales and sharks holding 100,000 to 10 million LINK have accumulated more and more of the digital asset since December 2022.
So here it can be seen that LINK holders are getting more confident and believe that the digital asset has the potential to climb higher than its current price.
However, the increase in the number of large investors such as whales can also cause retail investors to lose interest in LINK as they will be affected if whales act to sell LINK simultaneously.
There is no denying that development activities and whales investing in LINK are increasing, but the price of the digital asset has plummeted significantly after July 21, 2023.
After testing the $8.46 resistance zone, LINK slipped by 4.65% and if the price continues to witness a downward movement then the digital asset is capable of retesting the support zone at $6.99.
As of this writing, LINK price has surged by 2.04% to $7.33 in the last 24 hours with a market cap of $3 billion but still posted a 1.30% decline over the past week.
