Chainlink's back: LINK up 44% as traders eye ‘round 2’ rally
Main Idea
Chainlink (LINK) has seen a 44% price increase in the past week, with traders predicting further gains and highlighting its potential as a major large-cap cryptocurrency play in the current market cycle.
Key Points
1. Chainlink (LINK) surged 44% in the past week and 54% over the past 30 days, reaching $24.60 at one point.
2. A crypto trader with over 860,000 followers on X suggested LINK is poised for a 'round 2' rally, indicating bullish momentum.
3. Despite recent gains, LINK remains 55% below its May 2021 all-time high, unlike some other top 20 cryptocurrencies.
4. Analysts, including Miles Deutscher, believe LINK could be a standout large-cap investment this cycle, though many may overlook it.
5. Chainlink recently partnered with Intercontinental Exchange (ICE) to expand into foreign exchange and precious metals markets, signaling institutional adoption.
Description
A crypto trader says Chainlink may be “the most obvious large cap play for this cycle” that most people will miss.
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