LINK ($CHAINLINK) Price Rally to Continue

Whales have been the major contributors to the Chainlink price rally. The LINK could retrace partially before a rally to $20.

Oracle service provider Chainlink (LINK) has been one of the star performers in the altcoin space while clocking nearly 90% gains just over the last month. The LINK price is currently trading around $15 levels with its market cap around $7.9 billion.

Chainlink Whale Accumulation
The 200 largest chainlink whales have added huge quantities of LIBK coins over the last two days. Reportedly, they have been accumulating even before the 100% LINK price rally began.

Revisiting October 17th, when $Chainlink traded below $7.40, the 200 largest wallets swiftly accumulated an additional 40.18M $LINK. Two days after, the asset witnessed a remarkable surge of +125% in a span of 25 days, currently stabilizing around ~$14.60. The holdings in these wallets have sustained at elevated levels ever since.

After a strong price rally earlier in November, Chainlink is witnessing some sort of volatility over the last week. In the last 24 hours, the LINK price is down by 5.09% and is currently trading around $14.30 levels.

Chainlink appears to be on the verge of breaking out from a bullish flag pattern! A potential scenario involves a retest of the breakout zone around $14, paving the way for Chainlink ( LINK ) to advance toward the $20 mark.

SWIFT Collaborate With Chainlink To Transfer Tokenized Value
Swift’s successful collaboration with Chainlink and over 12 prominent financial institutions showcased the efficient and secure transfer of tokenized value across both public and private blockchains, facilitated by CCIP.

In this collaboration, Chainlink served as an enterprise abstraction layer, securely connecting the Swift network to the Ethereum Sepolia network. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) played a crucial role in ensuring complete interoperability between the source and destination blockchains.