After a series of bad and good news for LINK last week, there was an 18% rise today.
It has been quite a complicated week for LINK traders. Bank Of America analysts praised LINK, while the bankrupt Celsius was busy selling LINK. While investors, who do not know what news to price, hesitate to jump on the train, hefty purchases came from whales today.
A whale recently bought LINK for $6 million at $7.62, according to data provided by Lookonchain. This whale traded 3145 ETH for LINK. The price rose 6.5% with this purchase.
Two other whales recently bought LINK for $1.82 million.
“Whale bought 0x0fAC 500 rETH and 161,558 LINK for 151.6 ETH.
Whale 0x67c8 borrowed $500,000 USDC from Aave and bought 65,723 LINK.”
Chainlink introduced an important newly added feature to the platform on July 17. With the feature called Cross-chain Interoperability Protocol (CCIP), users can easily move tokens from one chain to another using “lock and mint” or “burn and release” mechanisms and add random data commands to trigger smart contract logic on the target chain.
LINK, which is trading at $8 as of today, can target $9.50 if it can maintain this level.