Chainlink $LINK on Track for $30 as Whales Accumulate 2 Million Tokens

Key Insights:

• Whale purchases of 2M $LINK suggest strong bullish sentiment, fueling price surge toward $30.
• Break above $25 signals potential growth for Chainlink, with $30 as the next target level.
• Chainlink’s influence expands with Ben Sherwin’s appointment to the CFTC Subcommittee.

Chainlink ($LINK) has shown strong signs of a recovery, positioning itself for potential growth toward the $30 mark. Recent whale activity, along with key technical indicators, suggests that the cryptocurrency could continue to rise in the coming weeks.

Whale Activity and Market Sentiment

According to analyst Ali Chart, the large purchases by whales signal strong investor confidence in Chainlink’s potential. A whale bought nearly 2 million Chainlink $LINK in the last 48 hours!” he reported. 

This type of accumulation is often seen before substantial price movements, indicating a belief that Chainlink is poised for upward momentum. While the price of Chainlink stands at $23.23 at the time of writing, the recent whale activity could be a precursor to higher levels. 

If $25 holds, analysts suggest that further growth toward $30 is likely. This surge in buying and a recent breakout above the $25 level suggest Chainlink is poised for further gains.

Chainlink’s Price Breakout and Future Projections

However, Ali also pointed out that Chainlink’s recent break above the $25 price point is a key signal. He explained that, with strong support at this level, the next target could be $30. If $25 holds, further upward movement in the trend could continue.

Chart analysis shows that Chainlink’s technical structure aligns with a potential rally. The $30 target seems within reach, depending on how the market reacts in the coming days.

At the time of writing, Chainlink is trading at $23.25, down 4.72% in the last 24 hours, with a 24-hour trading volume of approximately $777 million. The market continues to watch for any signs of further upward momentum.

Chainlink’s Role in Shaping U.S. Crypto Policy

Aside from price movements, Chainlink is also gaining attention for its influence on U.S. crypto regulations. Ben Sherwin, General Counsel at Chainlink Labs, has been appointed to the Commodity Futures Trading Commission (CFTC) Digital Asset Markets Subcommittee.