Chainlink (LINK) Growth Due to Large Investor Activity

In the past few days, Chainlink (LINK) has demonstrated impressive growth that has attracted the attention of investors and analysts worldwide. Over the week, the price of LINK has surged by over 16%, and at the beginning of October, the cryptocurrency's price surpassed the $8 mark. This growth has led to Chainlink's market capitalization reaching $4.56 billion. However, what has caused this significant surge?

Since mid-September, active movements of large investors, known as "whales," who control addresses holding between 10,000 to 10 million LINK, have become noticeable. These whales have started actively buying Chainlink, and over the weekend, they invested more than $53 million in it. Data from Santiment indicates that large investors acquired around 7.5 million LINK during this time.

Since the beginning of this year, Chainlink has demonstrated impressive growth of over 40%. Even in the first half of September, when the cryptocurrency's price was slightly below $6, LINK remained stable. This level proved to be fundamental for the digital currency, and it has continued to gain momentum since then.

Cryptocurrency market experts predict that, with the sustained high activity of whale wallets, Chainlink could reach a price of $18 by the end of 2023. Overcoming the $8 barrier has set the stage for further growth and a potential jump to $10. This may also signal the entry of the digital currency into a more long-term bullish phase.

The results of the autumn rally will become evident at the turn of October-November, and experts expect Chainlink to continue to be one of the most successful altcoins on the market. It is worth noting that this information has generated significant interest among investors and cryptocurrency enthusiasts, and many are closely monitoring Chainlink's further movements with great attention.