Categories: MarketsMenafn

Chainlink’s LINK Reclaims $29, Whales and Sharks Lead the Surge

Chainlink (LINK) has recently surpassed $29, marking its highest value in 37 months. Over the past week, it recorded a 21% increase, establishing itself as one of the strongest-performing altcoins in recent weeks.

This price surge has been attributed to significant accumulation by large holders, as highlighted by Santiment. In the last two months, wallets holding 100K or more LINK added 5.69 million tokens, while smaller wallets offloaded 5.67 million. Such trends, where larger holders accumulate from smaller retail traders, are often associated with potential future growth.

Related: Microsoft Says No to Bitcoin, Citing BTC’s Volatility as a Negative Factor

LINK total price. Source: CoinMarketCap

Chainlink’s Fundamental Remain Strong

The recent rally was also influenced by World Liberty Financial, backed by the Trump family, which increased its LINK holdings to $2 million. The platform, heavily reliant on Chainlink’s data and cross-chain services, now ranks LINK as its fourth-largest holding.

Moving on, the value surge was accompanied by a record-high Futures Open Interest (OI) of $770.27 million, indicating heightened trading activity. 

Additionally, $35.57 million in realized profits were recorded in the spot market, making it the second-largest profit-taking event of 2024. This activity was led by short-term and ultra-short-term holders, reflecting speculative behavior.

Despite profit-taking, Chainlink’s fundamentals remain strong. Active address counts continue to rise, signaling sustained interest and long-term growth potential, though the activity still lags behind the highs seen in 2021.

Other Altcoins on the Rise

Besides Chainlink, projects Aave (AAVE), Ondo Finance (ONDO) and Sui Network (SUI) have seen their coins surge in value as the overall market benefits from Bitcoin’s rally to $100K.

Related: Vancouver City Council Approves Bitcoin Passes Motion to Explore Bitcoin as Hedge Against InflationAccording to data from DefiLlama, the total value locked (TVL) across the Decentralized Finance (DeFi) market has surpassed $136B, shy of its all-time high of $177B.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

ROM: Golden Age Blasts Past 500,000 Pre-Registrations—Join the Buddy Boost Lottery for a Shot at Massive Crypto Prizes

Singapore, 8th July 2025, ZEX PR WIRE, Big news: ROM: GoldenAge—the hottest upcoming blockchain strategy…

1 hour ago

Camp Network Acquires Strategic Stake in KOR Protocol to Accelerate Tokenized IP and AI-Native Content

This partnership brings new IP and creative assets onchain to power new forms of collaborative…

13 hours ago

TR.ENERGY: Buy TRON Energy and Fee Savings on USDT Transfers in the TRX Network

Sharjah, UAE, 5th July 2025, ZEX PR WIRE, TR.ENERGY is a high-tech decentralized platform for efficient…

2 days ago

Closed Zero-Day Market Offers Targeted Exploits for WhatsApp, Android, iOS, macOS, and Linux

New York, US, 5th July 2025, ZEX PR WIRE, A growing number of cybersecurity professionals are…

2 days ago

Atelier Home Sets a New Standard for Luxury Home Decor

Berlin, Germany, 2nd July 2025, In the heart of Europe’s design capital, a new name…

5 days ago

WEMADE and Redlab Games Unleash Blockbuster Web3 MMORPG – ROM: Golden Age – Global Pre-Registration Now Open for August 2025 Launch!

Singapore, 2nd July 2025, ZEX PR WIRE, WEMADE and Redlab Games are thrilled to announce…

6 days ago