"For him, LINK's chance to be in the top 10, DOGE is getting boring, right?"
Chainlink (LINK) managed to beat Dogecoin (DOGE) to become the 10th largest cryptocurrency by market capitalization when its price peaked at $20.85 on February 12, 2024 before falling back slightly.
The increase in the price of LINK was triggered by network activity and increased trading volume, including an increase in active and new addresses, plus there was network activity that reached a 22-month high.
Through observation, LINK active addresses have increased from 2,800 to 3,210 on February 10, 2024 while the number of new addresses reached 1,020 from 808 in the same period.
Also pleased to note that Eigenpie announced the integration of LINK CCIP across Arbitrum (ARB) and Ethereum (ETH) while Paxos uses LINK's new USD PayPal pricing and Umami DAO has integrated LINK Data Streams on ARB.
Whales, on the other hand, transferred 245,000 LINKs worth $4.9 million on Binance, then the same whales who own the wallet labeled "0x2a1" took 495,057 LINKs worth $7.5 million from the crypto exchange between January 28 and February 7, 2024.
Although the wallet still holds 250,000 LINKs worth $5 million, redistributing the tokens and sending them to a crypto exchange could signal its goal of selling a large amount of LINKs at the current price.
According to leading analyst Rekt Capital, the price of LINK may first pullback at $19 before continuing to rise higher to $25 or more.
As of this writing, LINK's price is trading at $20.03, down 1.04% in the last 24 hours with a market capitalization of $11 billion, but has gained 9.32% in the past seven days.
