Rally

April

Chainlink

<ul>
 <li>Chainlink’s native token LINK surged above $12.50, reaching its highest price since April 2022.</li>
 <li>LINK has gained 65% in the past 30 days, currently trading at approximately $12.59.</li>
 <li>The number of wallets holding at least 1,000 LINK surpassed 27,000, a record high.</li>
</ul>
<p>Chainlink (LINK) has surged past the $12.50 level this weekend to hit its highest price since April 2022. The decentralized Oracle network’s token has mounted a significant rally, reflecting improving sentiment.</p>
<p>LINK now trades around $12.59, having gained 65% over the past 30 days, per CoinGecko <a href="https://www.coingecko.com/en/coins/chainlink" target="_blank" rel="noopener noreferrer nofollow">data</a>. The powerful move comes as the number of wallets holding at least 1,000 LINK reached a record high above 27,000.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Chainlink</a> has jumped all the way above $12.50 this weekend, crossing this threshold for the first time since April, 2022. The amount of wallets that hold at least 1K <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LINK</a> (currently worth $12,150 or more) has hit a new <a href="https://twitter.com/hashtag/alltimehigh?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#alltimehigh</a> of 27,152 wallets. <a href="https://t.co/yQ87RNZCPv" rel="noopener noreferrer nofollow">https://t.co/yQ87RNZCPv</a> <a href="https://t.co/ZIBixZWP8D" rel="noopener noreferrer nofollow">pic.twitter.com/ZIBixZWP8D</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1721298006090367014?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 5, 2023</a>
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<h2 class="wp-block-heading" id="chainlink-looks-bullish">Chainlink looks bullish</h2>
<p>The technical picture and on-chain activity point to a bullish outlook for <a href="https://thenewscrypto.com/?s=chainlink" target="_blank" rel="noopener noreferrer nofollow">Chainlink</a>. TradingView charts show LINK surging above its 50-day and 200-day moving averages, signaling momentum.</p>
<p>The moving averages are fanning out in a bullish crossover pattern, and trading volumes have spiked. This liquidity influx suggests room to test further upside resistances as technicals align positively.</p>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="576" src="https://thenewscrypto.com/wp-content/uploads/2023/11/image-5-1024x576.png" alt="" class="wp-image-85241" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/image-5-1024x576.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-5-300x169.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-5-768x432.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-5-1536x864.png 1536w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-5-376x212.png 376w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-5-150x84.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-5.png 1800w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Glassnode data also indicates the LINK price uptrend is aligned with growth in addresses holding non-zero balances, reflecting increased network adoption. A whale recently acquired over 300,000 LINK worth $3.8 million.</p>
<p>Fundamentals may also be driving interest, including Chainlink’s planned staking upgrade to enhance incentives and rewards. Additionally, adoption of Chainlink’s Cross-Chain Interoperability Protocol continues to rise.</p>
<p>The recent LINK price breakout demonstrates Chainlink’s solid technical position and ongoing real-world traction. As the Oracle network cements itself further in DeFi and traditional finance, LINK seems poised to capitalize on its bullish momentum.</p>

Chainlink Rally Pushes LINK Past $12.50 to New Yearly High

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