Chainlink (LINK) Surges Over 20% in Last Month

JAKARTA  - When the crypto currency market, including Bitcoin, was undergoing a strong consolidation, the attention of major market players turned to the altcoin Chainlink (LINK) which showed an impressive performance.

Currently, LINK's price has increased by 2.75% with a price of 7.36 US dollars (IDR 111,900) and LINK's market capitalization is 3.9 billion US dollars (IDR 59.3 trillion). Interestingly, in the past month, LINK's price has surged by 20%, despite the consolidation of the crypto market as a whole.

On-chain data provider Santiment revealed that Chainlink's activity on the GitHub platform saw a significant increase this summer, making it one of the top five assets most actively under development.

Not only that, the big holders who own 100 thousand to 10 million LINK coins, known as "shark" and “whale” have accumulated the highest number of LINK coins since December 2022. In less than four weeks, these addresses succeeded raised over 192 million US dollars (IDR 2.9 trillion) of LINK coins.

Michaël van de Poppe, a well-known analyst in the crypto world, recently shared his bullish prediction for Chainlink through his YouTube channel. According to him, after a long period of accumulation, this crypto asset has the potential to experience a surge of more than 50% from its current price.

Van de Poppe notes that a price range of around 6.75 US dollars (IDR 102,650) is important for a bullish position, and heavy speculation leads to a strengthening of the LINK price up to 11 US dollars (IDR 167,282).

Not only is the price increase and development activity attractive, Chainlink has also introduced the Cross-Chain Interoperability Protocol (CCIP), a cross-chain interoperability protocol. This protocol has been enabled and running for users on various blockchains such as Avalanche, Ethereum, Optimism, and Polygon. Prior to launch on the mainnet, this protocol was tested by around 25 partners.

The presence of this protocol also provides synergy with SWIFT, a global payment system used by banks around the world. This shows that Chainlink is not only focused on internal growth, but also on cross-sectoral collaboration and innovation that can strengthen its role in the blockchain ecosystem.

With all these elements in focus, Chainlink (LINK) continues to steal the limelight in the cryptocurrency space, reminding us that even in the midst of market consolidation, there are assets that still shine with strong growth potential.