Link prices continued to surge this week, rising to the highest level since January after developers unveiled ChainLink Endgame Vision and whales continued to accumulate.
summary
- ChainLink has published an EndGame document highlighting its vision for the future.
- Whales continue to accumulate links this year.
- Link was the most purchased token by smart money investors in the last 24 hours.
The ChainLink token jumped to $28.85, up 165% from this year’s lowest level. The 24-hour volume jumped to $2.9 billion, with a market capitalization of $17.5 billion.
Launch ChainLink EndGame
The main catalyst for the surge in link prices was the release of ChainLink Endgame, a lengthy document detailing its vision and location in the blockchain industry.
At the heart of that vision is becoming an industry-standard Oracle platform that enhances advanced blockchain transactions. I believe that Windows plays the role that AWS has played in the PC industry, Mobile’s iOS and cloud industry.
ChainLink hopes to bolster tens of trillion transactions in industries such as real estate, debt markets, equities and derivatives.
ChainLink is also looking at technology that helps financial institutions speed up cross-border payments and reduce transaction costs through tokenization. This highlighted the partnership between UBS and Swift, a society responsible for trillions of transactions.
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The ChainLink Endgame document highlighted how ANZ Bank and Fidelity can use their technology to enable cross-chain settlement of CBDCs, Stablecoins and tokenized assets.
This document was conducted several weeks after ChainLink launched its Strategic Link Reserve. Among these, we have started channeling fees that generate on-chain and off-chain to accumulate Link tokens. Since its launch, it has already purchased over $2.8 million tokens.
Link, meanwhile, was the token most purchased by smart money investors in the last 24 hours. Nansen’s data shows that these investors purchased more than $1.5 million in tokens during this period.
Whale investors have increased their link holdings by 66% to 5.49 million over the past 30 days.
Another potential catalyst is that at least one company may decide to apply for a spot link ETF with the Securities and Exchange Commission.
Link price chart analysis refers to future surges
ChainLink Price Chart | Source: crypto.news
Daily time frame charts show that link prices have become a strong uptrend over the past few months. We are currently moving to the third phase of the Elliott wave pattern. This is usually the most bullish. ChainLink also slowly forms a cup and handle pattern, which is 67% deep. So, measure the same distance from the top to make more profits at $52.
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