Why Chainlink (LINK) Is Your Top Altcoin Pick Right Now!
Chainlink (LINK) has stabilized between $12 and $13 after a recent decline. Despite market ups and downs, this mid-cap altcoin, worth about $15 billion, has bounced back by over 6% in the last two weeks, trading around $14.8 in early New York trading on Monday.
Chainlink (LINK) has stabilized between $12 and $13 after a recent decline. Despite market ups and downs, this mid-cap altcoin, worth about $15 billion, has bounced back by over 6% in the last two weeks, trading around $14.8 in early New York trading on Monday.
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However, bullish sentiments have been dampened by ongoing regulatory actions from the United States Securities and Exchange Commission (SEC). In the latest development, the SEC issued a Wells notice to Robinhood Markets concerning its cryptocurrency operations.
Chainlink (LINK) Primed for New All-Time High, Analyst Predicts
According to renowned crypto analyst Michaël van de Poppe, Chainlink (LINK) is gearing up for a surge to a new all-time high (ATH) following a successful retest of a bullish breakout against the U.S. dollar. Van de Poppe highlights that the LINK price has recently been testing its cycle bottom against Bitcoin (BTC).
#Chainlink does a retest at cycle low.
That's not when you want to start selling your positions. pic.twitter.com/ATeqM8QbCB
— Michaël van de Poppe (@CryptoMichNL) May 6, 2024
As per Poppe’s analysis, once the LINK price breaks out of a horizontal consolidation phase in the upcoming weeks, the altcoin could potentially experience a nearly 10x rally. To sustain this upward momentum, LINK must consistently close above the $18 mark, indicating a strong bullish trend against the US dollar.
Chainlink: Empowering Web3 with Cross-Chain Interoperability
The Chainlink network has evolved into a significant web3 platform, thanks to its cross-chain interoperability protocol (CCIP). This protocol facilitates the smooth tokenization of real-world assets, establishing Chainlink as a reputable player in the industry.
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Utilizing Chainlink oracle data sets, numerous web3 platforms like AAVE and Synthetix have enhanced their operations. Notably, the Chainlink network boasts facilitating over $10 trillion in transactions, showcasing its widespread adoption and impact within the ecosystem.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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