Chainlink Surges 6%, Outperforms Bitcoin with Potential to Reach $18

Share on Facebook Share on Twitter

Chainlink, also known as LINK, has once again outperformed its competitors. While the market was trading sideways, the price of LINK increased by 6%. The token value could even surpass the $16 mark if accumulation continues to increase. Chainlink is moving faster than other top altcoins. At the time of reporting, the price of LINK was at $15.72. This was after a value increase of 6.61% in the last 24 hours. Its increase was the highest of all assets listed in the top 20 by market capitalization.

According to on-chain data provider Santiment, the 200 largest Chainlink whales have accumulated tokens worth $50 million in the last five weeks. This accumulation has been noticeable in the market capitalization. AMBCrypto’s rating of Chainlink shows that the market capitalization was $8.74 billion at the time of reporting. The increase in market capitalization shows that many LINKs were involved in transactions, accompanied by a price increase.

LINK has performed impressively throughout the year. In addition to outperforming many altcoins, the token also exceeded Bitcoin’s Year-To-Date (YTD) performance. While BTC’s YTD performance recorded an increase of 133.51%, LINK was higher at 179.55%. LINK was able to achieve this milestone by repeatedly decoupling from the market trend and rising independently.

alert-circle
You can also find us on Telegram: Click here to follow our Telegram channel.

AMBCrypto analysts have been observing Chainlink’s on-chain activities over the past seven days. A focus was on the exchange activity. At the time of reporting, LINK’s exchange inflow was 308, while the exchange outflow was 3867. Interestingly, the outflow was significantly higher than the inflow last week. This suggests that the selling intention for LINK was lower than the buying momentum. In such a case, the value of the token could continue to rise.

Technical Perspective

From a technical point of view, the LINK/USD 4-hour chart showed that the sentiment around the cryptocurrency was bullish. This conclusion was drawn from the Exponential Moving Average (EMA). At the time of reporting, the 20 EMA (blue) had crossed the 50 EMA (yellow). This crossover is known to precede a bullish trend. Therefore, it is possible that LINK is heading towards $16 in the short term. If the buying pressure is strong, the price could tip the forecasted value into the $18 range.

Accumulation/Distribution (A/D)

One of the fundamentals for this forecast is the Accumulation/Distribution (A/D). Based on the chart shown above, the A/D has risen to 27.10 million, suggesting that there has been more accumulation than distribution. If the bears do not change their stance, LINK would have no choice but to continue to rise.

Share on Facebook Share on Twitter

The 3 best crypto casinos

100% without limit + 100 Free Spins
Welcome bonus
Cryptocurrencies (11)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
CoinKings review
Bonus Information CoinKings
Wagering requirements 35x bonus
35x free spins winnings
Minimum deposit €20
Maximum bet €5
Bonus validity 14 days for deposit bonus
7 days for free spins
  • There is no maximum bonus amount.
  • 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino

In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.

Author & Responsibility: Gregor Ziegler
Last update by Isabella Brown on 10. June 2024
Anjuan Gaming
Anjouan
Licence
Curaçao License
Curaçao
Licence
Up to 1 BTC + 100 Free Spins
Welcome bonus
BETSFTD
Cryptocurrencies (24)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Chainlink_Logo
  • dai-logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
  • Zcash Signet (black)
Bets.io review
Bonus Information Bets.io
Wagering requirements 40x deposit + bonus
40x free spins winnings
Minimum deposit 0.00034 BTC or equivalent
Maximum bet 0.00003 BTC or equivalent
Bonus validity 30 days to claim
14 days to wager
  • Minimum deposit: 0.048 BCH • 0.0068 ETH • 0.26 LTC • 154 DOGE • 20 USDT • 40 XRP • 180 TRX • 48 ADA • 0.04 BNB • 20 BUSD • 20 USDC.
  • Maximum bet per round: 0.005 BCH • 0.0007 ETH • 0.03 LTC • 15 DOGE • 2 USDT • 4 XRP • 19 TRX • 4.8 ADA • 0.004 BNB • 2 BUSD • 2 USDC.
  • Free spins are credited on “Max Miner” by Gamebeat, 20/25 free spins per a day.
How did we rate this casino

Bets.io is our number 1 among crypto casinos because they have kept everything great about Dama Casinos, such as their excellent game selection and well-known reliability, while eliminating the frustrating KYC processes and traditional payment methods that can hinder the full crypto casino experience.

Author & Responsibility: Steven Harper
Last update by Isabella Brown on 10. June 2024
Curaçao License
Curaçao
Licence
100% up to 1 BTC
Welcome bonus
Cryptocurrencies (9)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
Metaspins review
Bonus Information Metaspins
Wagering requirements 40x bonus
Minimum deposit 0,1 mBTC
Maximum bet $5 per spin
Bonus validity 7 days to wager
  • There is no cap on winnings or withdrawals.
How did we rate this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Author & Responsibility: Isabella Brown
Last update by Michael Schmitz on 10. June 2024
Curaçao License
Curaçao
Licence

Latest News

Created by

I have enjoyed following the international iGaming industry since my first encounter at the age of 23. Fascinated by its diversity and complexity, I was hooked and have never left the industry since. Here at KC, I am a proud member of the founding team as well as the content team. We use everyone's knowledge to find every possible flaw in a casino so you can relax and play.
Reviewed by
Nerd of Numbers

Last update: 11. June 2024

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.

Compare Casinos Choose up to 3 casinos to compare