Chainlink price dipped to $22.74 but trading volume surged 77% to $1.24B, signaling strong buying interest. Cardano integration plans and a U.S. Department of Commerce data-feed partnership boost LINK’s credibility and raise the odds of a rebound toward the $28 resistance level soon.
Chainlink price fell to $22.74 while trading volume jumped 77% to $1.24B, indicating accumulation.
Cardano’s planned integration with Chainlink oracles could enhance DeFi liquidity on Cardano.
Chainlink’s collaboration with the U.S. Department of Commerce brings institutional credibility and use-case validation.
Chainlink price falls to $22.74 amid a 77% volume surge to $1.24B; Cardano integration and a U.S. Dept. of Commerce deal could spark a recovery—read analysis.
What is Chainlink price doing now?
Chainlink price recently dropped to a 24-hour low of $22.74 amid broader market volatility, but trading volume rose 77% to $1.24 billion, suggesting buyers stepped in on the dip. Short-term momentum shows mixed signals with resistance near $25–$28.
How could Cardano integration affect Chainlink price?
Planned Cardano integration with Chainlink oracles could materially increase on-chain liquidity for Cardano’s DeFi projects. Reliable, real-time data via Chainlink would enable more complex smart contracts and attract TVL (total value locked), supporting LINK demand for oracle services. Market observers expect improved adoption metrics over the coming quarters.
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Chainlink drops to $22.74, but trading volume surges 77%, fueled by Cardano integration and U.S. government partnership.
Price action details: LINK experienced a rejection near $25 and slid to $22.74, reflecting short-term selling pressure across crypto markets. At reporting, LINK traded around $22.92, down roughly 3.44% on the day. Early intraday highs touched $23.85 but failed to hold above $23.05, which intensified bearish momentum.
Volume and market behavior: Despite the price drop, on-chain and exchange data show a 77% surge in trading volume to $1.24 billion, implying accumulation by traders who view the dip as a buying window. High volume on down days can indicate capitulation followed by renewed buying interest.
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Source: https://en.coinotag.com/chainlink-falls-to-22-74-as-trading-volume-surges-77-and-cardano-tie-up-u-s-commerce-deal-could-boost-price/