Chainlink (LINK) is performing outstandingly despite the broader crypto market’s bearish moment. Its partnership with Intercontinental Exchange (ICE) and Whale has recently made a significant purchase of 938,489 LINK tokens, sparking bullish momentum.
At the time of writing, the Chainlink token is trading at $24.89, marking a 2.36% high in the previous day. Its market volume rose 104% to $3.01 billion, reflecting strong investor interest. Its total market cap reached $16.88 billion, climbing 2% over the past 24 hours.
Chainlink ICE Partnership, Growing Reserves, & Bullish $30 Price Target
According to the news, Chainlink is collaborating with Intercontinental Exchange (ICE), the parent company of the NYSE, to bring forex and precious metals data from ICE’s market feed into Chainlink Data Streams. It step that is performing a huge moment in the market and plays a crucial role in market bull.
However, Chainlink’s dashboard shows the reserve holds about 109,663 LINK (worth around $2.8M). The average buy price is $19.65 per token, showing the program started building its reserve early.
Furthermore, a prominent crypto analyst, Altcoin Sherpa, addressed that Link is a beautiful coin. He revealed that this altcoin is one of the best coin right now. Sherpa is impressed by the chart of the link and predicted that it could reach $30.
ChainLink Derivatives Data Indicate Bullish Impact
Chainlink derivatives market is showing a strong momentum, with Open Interest significantly increased by 6.37% to $1.62 million, reflecting continued activity in the market despite broader market volatility.
LINK OI-weighted funding rate remains positive, showing that more traders are betting on the price to rise. This reflects strong demand and a clear bullish phase. However, traders should stay cautious, as overheated funding could trigger corrections.
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