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Chainlink Shows Strong Fundamentals Despite Falling Price
Summary: Chainlink's price action has been underwhelming over the past several weeks with LINK failing to rally even as Bitcoin reaches new highs. Until Bitcoin enters a consolidation phase or its price begins to fall, it will likely continue to dominate the crypto market. However, data from Santiment shows that there is an ongoing accumulation pattern ...
Chainlink's price action has been underwhelming over the past several weeks with LINK failing to rally even as Bitcoin reaches new highs.
Until Bitcoin enters a consolidation phase or its price begins to fall, it will likely continue to dominate the crypto market. However, data from Santiment shows that there is an ongoing accumulation pattern among smaller retail investors which could lead to greater upwards price movement.
The Santiment report also noted that while Chainlink's price has gravely underperformed BTC and other altcoins like Ethereum, its largest whales are still holding strong, with there being no apparent whale sell-offs in sight. At the time of writing LINK is trading hands for $11.20 and is down 0.8%.
By Emily Mason
Tags: Bitcoin,BTC,Chainlink,LINK
Link: Chainlink Shows Strong Fundamentals Despite Falling Price [Copy]
