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LINK falls by 26% after ‘Trump Pump’ fizzles away – What’s next?
In recent weeks, the cryptocurrency market has been gripped with uncertainty and volatility. No one is immune to these fluctuations, and Chainlink [LINK] has been no exception. Following an impressive surge due to President-elect Donald Trump’s backing, LINK fell by 26% after the hype fizzled out. But what does this mean for the future?
The “Trump pump” that propelled LINK prices upwards seemed like a long-awaited opportunity for investors to capitalize on its fundamental strength. However, as we can see from the recent price action, the excitement has been short-lived.
One of the most critical aspects to consider is whether this sudden shift in sentiment will continue. The numbers tell an astonishing story – over 3,500 LINK wallets have increased their holdings since January, and there are now more daily active addresses than ever before.
On a different note, we need to look at LINK’s current fundamentals. Backing from the former president and his supporters has opened up new avenues for growth. Additionally, this significant increase in network activity might not be the best indicator of future performance, but it does reflect that there is a renewed interest in the platform as an investment.
There are many factors here that could go either way, including the risk that some early adopters may decide to cash out their gains and exit the market.
Source: ambcrypto.com
