Chainlink (LINK) Price Jumps 20%, Will it Hit $17?


Hey there, crypto enthusiasts!

A lot is happening in the crypto world right now. Chainlink’s price has dipped alongside the broader market, but there’s potential for a rebound. Let’s dive into the Chainlink price forecast and what it means.

Current Price Movement


  • LINK is currently priced around $12.22 as per Coinpedia Markets, which is a slight dip reflecting broader market trends.
  • The asset has seen a 3.18% decrease over the last day, trading in a tight range.
  • Major cryptocurrencies like Bitcoin and Ethereum are also facing downward pressure.

Market Sentiment

  • The MACD indicator shows a sense of indecision in the market right now.
  • If LINK can push through the $12 resistance, we might see a potential rally toward $15 or even $20.

Sergey Nazarov’s Vision


  • Chainlink cofounder Sergey Nazarov recently shared his thoughts on the future of asset tokenization on X.
  • He believes that the value of Real-World Assets (RWAs) could exceed that of cryptocurrencies in the coming years, thanks to money flowing in from traditional finance.

Big Predictions for Tokenized Assets


  • Chainlink forecasts that the market for tokenized assets could reach a whopping $10 trillion by 2030.
  • This growth is expected to be driven by increased adoption from institutions and favorable regulations.

Exciting Developments

  • Chainlink’s cross-chain interoperability protocol (CCIP), launched in April 2024, enhances its potential in this space.
  • The project has seen the second-highest development activity among blockchain projects recently, which is a good sign for long-term growth.

Trading Activity Surge


  • In the last week, a significant 18.125 million LINK was unlocked and deposited into Binance.
  • Historical data shows that similar unlocks often lead to price rallies about a month later.
  • Chainlink's trading volume has increased by 31.54%, reaching $379.43 million.
  • Open interest also rose by 17.32% to $187.68 million. When both these metrics rise, it usually means more activity and liquidity in the market, which can help boost the price.
If the bullish trend continues, Chainlink could test its resistance level at $14. Sustaining this price may pave the way for a rise toward $17. With strong development activity, LINK shows promising potential for future growth.

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