- ChainLink (LINK) has risen over 130% since September 2024, but growth has slowed in recent weeks.
- Partnerships with SBI Japan and the U.S. government have sparked renewed market interest.
- LINK currently trades near $24, increasing 7.5% in the last week amid crypto market momentum.
- Data from Nansen indicates a 64.5% surge in whale accumulation, with $49.5 million in LINK purchased over 180 days.
- Crypto analysts give mixed forecasts, with some predicting LINK could reach $30 soon, but others remain conservative for September growth.
Chainlink (LINK) has experienced significant growth over the past year, gaining over 130% since September 2024. The token’s pace of growth has slowed in the last month, raising questions about its future price movement as the market approaches September’s end.
Recent market momentum follows news of Chainlink‘s new alliances. The project announced a partnership with SBI Japan and secured an agreement with the U.S. government to support on-chain economic data, boosting investor attention. LINK now targets the $40 price level and is trading around $24, up 7.5% over the past week.
Market intelligence firm Nansen reports that large holders accumulated 2.08 million LINK tokens in the last 180 days, worth about $49.5 million at current prices. This reflects a 64.5% jump in major investor buying activity. Large purchases by so-called “whales,” or high-net-worth investors, have previously signaled price rallies for LINK.
Technical analyst Ali Martinez stated that LINK is forming a bull flag, a common chart pattern that suggests the potential for continued upward movement. Martinez sets $26 as a lower resistance level and suggests LINK could exceed $30 if the pattern holds. He remarked, “the next move for Chainlink $LINK could send it toward $100.” However, this scenario envisions a price almost 400% higher than current levels.
Other analysis from CoinCodex shows a more reserved outlook. According to their report, overall sentiment remains bullish, and the Fear & Greed Index stands at 54, indicating a neutral stance. CoinCodex forecasts LINK rising to as much as $25.92 in September, representing a possible 7% increase. Their projections suggest the $30 mark may not be reached until November 2025.
Chainlink’s recent developments and increased whale activity signal increased interest, although analyst expectations for short-term gains vary. To see the data from Nansen, visit their Ethereum&tab=whales”>report.
LINK continues to draw attention from both investors and institutions, with some forecasting further gains and others urging caution in the immediate future.
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