{"id":811962,"date":"2024-12-12T22:12:52","date_gmt":"2024-12-13T04:12:52","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/12\/time-to-buy-link-chainlink-open-interest-soars-to-all-time-high\/"},"modified":"2024-12-12T22:12:52","modified_gmt":"2024-12-13T04:12:52","slug":"time-to-buy-link-chainlink-open-interest-soars-to-all-time-high","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/12\/time-to-buy-link-chainlink-open-interest-soars-to-all-time-high\/","title":{"rendered":"Time to Buy LINK? Chainlink Open Interest Soars to All-Time High"},"content":{"rendered":"<div role=\"main\" id=\"main-content-row\">\n<article id=\"the-post\" data-post-url=\"https:\/\/coinpedia.org\/news\/time-to-buy-link-chainlink-open-interest-soars-to-two-year-high\/\" data-post-title=\"Time to Buy LINK? Chainlink Open Interest Soars to All-Time High\" data-post-edit=\"https:\/\/coinpedia.org\/wp-admin\/post.php?post=392474&#038;action=edit\">\n<div>\n<figure><img width=\"1200\" height=\"628\" src=\"https:\/\/image.coinpedia.org\/wp-content\/uploads\/2024\/11\/25190328\/Chainlink-Price-Analysis-LINK-Price-Bullish-Pattern-Hints-A-40-Rally.webp\" alt=\"Chainlink Price Analysis: LINK Price Bullish Pattern Hints A 40% Rally?\" data-main-img=\"1\" decoding=\"async\" fetchpriority=\"high\"  ><\/figure>\n<\/div>\n<div>\n<p>On December 12, 2024, Chainlink (LINK) seems to be in the eyes of both whales and institutions, leading to a notable price surge in the past 24 hours. According to a whale transaction tracker on X (formerly Twitter), significant accumulation has been reported, ranging from wallet-linked Trump to whales.<\/p>\n<h2 id=\"h-whales-and-institutions-rising-interest-in-link-nbsp\"><strong>Whales and Institutions Rising Interest in LINK\u00a0<\/strong><\/h2>\n<p>During the Asian trading hours, <a href=\"https:\/\/x.com\/EyeOnChain\/status\/1867057819591303560\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Eyesonchain<\/a>, a blockchain-based transaction tracker made a post on X that Trump\u2019s World Liberty Financial acquired a significant 41,335 LINK, worth $1 million. This notable purchase was made at an average price of $24.19.<\/p>\n<p>Additionally, another blockchain-based transaction tracker <a href=\"https:\/\/x.com\/lookonchain\/status\/1867133609842532643\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Lookonchain<\/a> made a post on X that a whale had invested a substantial 1,263 ETH worth $4.95 million to acquire 175,424 LINK tokens at an average price of $28.18 level.\u00a0<\/p>\n<p>These two substantial acquisitions in less than 12 hours have gained widespread attention from the crypto community, resulting in a record jump in price and future open interest (OI).<\/p>\n<p>According to the on-chain analytics firm <a href=\"https:\/\/x.com\/glassnode\/status\/1867208654333649054\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Glassnode<\/a>, LINK\u2019s price has jumped to its highest level in the past two years, while its future OI has reached an all-time high of $770.27 million.<\/p>\n<div>\n<figure><a href=\"https:\/\/image.coinpedia.org\/wp-content\/uploads\/2024\/12\/12211448\/Gemm6GeXQAAQGt6.jpeg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/image.coinpedia.org\/wp-content\/uploads\/2024\/12\/12211448\/Gemm6GeXQAAQGt6.jpeg\" alt=\"Chainlink (LINK) Open Interest\"  ><\/a><figcaption>Source: Glassnode<\/figcaption><\/figure>\n<\/div>\n<h3 id=\"h-current-price-momentum\"><strong>Current Price Momentum<\/strong><\/h3>\n<p>Currently, LINK is trading near $28.23 and has registered a price surge of over 18.5% in the past 24 hours. During the same period, its trading volume jumped by 65%, indicating heightened participation from traders and investors amid ongoing whales and institutions participation.<\/p>\n<h2 id=\"h-chainlink-link-technical-analysis-and-upcoming-levels\"><strong>Chainlink (LINK) Technical Analysis and Upcoming Levels<\/strong><\/h2>\n<p>According to expert technical analysis, LINK is currently facing strong resistance near $29 and is attempting to breach this level. With significant institutional interest, crypto whales, and trader confidence, there is a strong possibility it could break through this level in the coming days.<\/p>\n<figure><a href=\"https:\/\/image.coinpedia.org\/wp-content\/uploads\/2024\/12\/12211711\/LINKUSDT_2024-12-12_21-17-00.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"448\" src=\"https:\/\/image.coinpedia.org\/wp-content\/uploads\/2024\/12\/12211711\/LINKUSDT_2024-12-12_21-17-00-1024x448.png\" alt=\"Chainlink (LINK) Technical Analysis\"  ><\/a><figcaption>Source: Trading View<\/figcaption><\/figure>\n<p>Based on the recent price action, if LINK breaches this level and closes a candle above $29.50, there is a strong possibility it could initially soar by 20% to reach the next resistance level of $35, and later surge by 80% to reach the $52.50 level, which is its all-time high.<\/p>\n<p>However, traders and investors need to understand that LINK has significantly stretched on both the weekly and daily time frames. There is also a possibility of a price correction during the upcoming rally, which could provide support for LINK in its bull run.<\/p>\n<\/div>\n<div>\n<h2>We&#8217;d Love to Hear Your Thoughts on This Article!<\/h2>\n<div>\n<h4>Was this writing helpful?<\/h4>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/coinpedia.org\/news\/time-to-buy-link-chainlink-open-interest-soars-to-two-year-high\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Chandan Gupta<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 12, 2024, Chainlink (LINK) seems to be in the eyes of both whales and institutions, leading to a notable price surge in the past 24 hours. According to a whale transaction tracker on X (formerly Twitter), significant accumulation has been reported, ranging from wallet-linked Trump to whales. Whales and Institutions Rising Interest in<\/p>\n","protected":false},"author":1,"featured_media":811963,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59802,428],"tags":[],"class_list":{"0":"post-811962","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-chainlink","8":"category-interest"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/811962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=811962"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/811962\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/811963"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=811962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=811962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=811962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}