Chainlink Hits $20T Volume, LINK Price Eyes $17.67
The Most Important Points in Brief
Chainlink (LINK) has reached a new milestone: The total transaction volume in the network has surpassed the 20 trillion USD mark. This achievement reflects the growing adoption of Chainlink’s oracle technology. At the same time, buying interest in LINK is increasing, as evidenced by higher trading activity and a rise in active addresses. Market trends indicate a potential price rally.
Chainlink Reaches 20 Trillion USD Transaction Volume
The total transaction volume (Total Value Extracted, TVE) of Chainlink has surpassed the 20 trillion USD mark. TVE measures the total value of transactions processed through Chainlink’s oracle services. A high TVE value indicates that more and more blockchains and protocols are using Chainlink for price determination.
This increase suggests stronger market adoption. The growing use of Chainlink data could lead to a higher demand for LINK tokens in the long run.
Rising Demand for LINK
In the past 24 hours, 306,510 LINK tokens worth approximately 4.5 million USD have been purchased. This resulted in a negative exchange net flow, meaning that more LINK was withdrawn from exchanges than deposited. Such a trend indicates that investors are holding their assets long-term rather than selling them in the short term.
At the same time, the number of daily active addresses reached its highest level since December 2022. Increasing activity on the blockchain can be seen as a sign of growing interest and potential price increases.
Technical Analysis: LINK Remains in an Uptrend
Technical analysis shows that LINK is in a stable uptrend. The price recently broke out of an ascending triangle, a pattern that often signals an impending price rally.
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Analysis using the Fibonacci retracement method identifies two resistance zones:
– **15.45 USD** – Initial price reactions have already occurred here.
– **16.42 USD** – Another important resistance level.
If LINK surpasses both hurdles, the price could rise to **17.67 USD**. The current market sentiment remains optimistic, as investors continue to accumulate LINK.
Our Assessment
Chainlink’s latest milestone highlights the growing importance of the network within the blockchain ecosystem. The increasing demand for LINK and the positive technical outlook could further drive the price. The key factor will be whether the token breaks through the identified resistance zones. Investors in LINK should closely monitor market movements.
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