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**Chainlink Achieves $29 Price Level for the First Time in Three Years as Whales Buy Up Tokens**
As reported by U.Today, Chainlink has achieved a significant milestone by reaching a price level of $29, marking its first time in three years. The sudden surge is attributed to whale activities, which have led to large-scale buying of tokens.
In the past few weeks, whales have accumulated an impressive 5.69 million LINK tokens, amounting to a cumulative value of approximately $163 million. This massive influx of buying activity has been fueled by retail investors dumping their tokens onto the market, effectively providing whales with an opportunity to snap up these assets at discounted prices.
The recent rebound in active address counts on Chainlink has also led analysts to speculate that the token might experience a price increase in the near future. With a 142% spike in active addresses, it’s likely that this momentum could translate into increased demand and ultimately drive up the price of LINK tokens.
While there is no definitive confirmation as to whether or not this upward trend will continue, Chainlink enthusiasts are holding their breaths, hoping for a swift recovery.
Source: u.today
