Chainlink Hits $20T: Is LINK the New Gold Rush? 🚀💰

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  • LINK has now surpassed $20 trillion in total transaction value executed on its network. That’s enough to buy a small planet—or at least a very fancy spaceship. 🚀
  • Over the past 24 hours, traders have accumulated millions of dollars worth of LINK, with active addresses reaching a new high. Apparently, everyone’s trying to get their hands on this digital gold. 🤑

Chainlink [LINK] has been on a bullish path since last week, posting a modest 1% gain as traders continue to buy the token. It’s like watching a turtle win a marathon—slow and steady, but hey, it’s winning! 🐢

AMBCrypto’s analysis indicates a growing demand during this period. While the growth appears gradual, it could set the stage for a major price rally in the coming days. The analysis below outlines how this could unfold. Spoiler alert: it involves charts, numbers, and a whole lot of optimism. 📈

LINK’s TVE surpasses $20 trillion

There has been a significant increase in the Total Value Extracted (TVE) on Chainlink, which has now reached a new milestone of $20 trillion. That’s right, trillion with a “T.” It’s like the GDP of a small galaxy. 🌌

TVE is a metric that measures the total value of transactions facilitated by Chainlink’s oracle services. Think of it as the digital equivalent of a very busy stock exchange, but with fewer suits and more memes. 🕴️

A high TVE suggests strong adoption among blockchains and protocols that rely on Chainlink’s price data as a primary source. In other words, everyone’s using it, and they’re not shy about it. 🏆

The market has responded positively to this development, as key indicators show not only increased usage of Chainlink but also renewed buying activity from traders. It’s like a Black Friday sale, but for crypto. 🛒

Traders accumulate LINK as activity surges

In the last 24 hours, LINK acquisitions have seen a significant increase. Data from IntoTheBlock reveals that 306,510 LINK, valued at approximately $4.5 million, were purchased during this period, resulting in negative exchange netflow. That’s a lot of LINK, folks. A whole lot. 🤑

Negative exchange netflow reflects growing market confidence, as users transfer assets from exchanges to private wallets for long-term storage rather than immediate sale. In other words, they’re holding onto it like it’s the last slice of pizza. 🍕

The increase in LINK purchases coincided with a rise in daily active addresses, which reached their highest level since December 2022. It’s like a party, and everyone’s invited—except the bears. 🐻

The continued growth in active addresses could benefit LINK, as it signals increased trader participation and potential for further buying activity, aligning with recent exchange netflow trends. In short, the train’s leaving the station, and you might want to hop on. 🚂

LINK remains in a bullish phase

LINK remains in a bullish phase, as evident from its chart pattern. The asset has slightly broken out of an ascending triangle, defined by a horizontal resistance level and a rising diagonal support line. It’s like a rocket waiting for liftoff. 🚀

This pattern often signals accumulation, with a breakout potentially marking the beginning of a significant rally. LINK is already progressing in this direction, steadily advancing toward a projected target of $17.67. That’s not just a number—it’s a destination. 🎯

AMBCrypto used Fibonacci retracement levels to pinpoint two critical resistance zones that may hinder LINK’s upward trajectory. It’s like a treasure map, but with more math. 🧮

The first resistance is at $15.45, where price reactions have already been observed. The second is at $16.42. If LINK overcomes both barriers, it could potentially reach its ultimate target of $17.67. It’s like a video game, and LINK is about to level up. 🎮

Overall, market sentiment remains optimistic. As traders continue accumulating LINK, sustained buying pressure could drive the asset toward its projected goal. So, buckle up, folks—it’s going to be a wild ride. 🎢

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2025-03-25 21:47