LINK has briefly soared above $9; here are a few likely reasons why it happened
Sentiment data aggregator has commented on the recent LINK price surge amid the volatile crypto market.
The team of analysts at the data agency believe there have been two likely reasons that propelled the LINK price surge above $9.
Here’s what pushed the link up
According to a recent tweet posted by Santiment, the price of LINK briefly touched a high of $9.20, a level not seen since mid-August. He believes this was driven by the heavy activity of the LINK wallet over the past month.
Besides, traders have been pushing LINK up by longing this altcoin “aggressively” – these funding rates spiked.
At the time of writing, the coin is trading lower than the above three-month high, changing hands at $8.50, but still showing an increase of 5.96% over the past 24 hours.
LINK inks new partnership as marines await staking
As reported by U.Today previously, on Nov. 3, Chainlink spread the word about a major new partnership; this time, it was with a leading incubator and launchpad for DLT games, NFTs and metaverses: Seedify Fund.
Through this partnership, Chainlink intends to support the expansion of the GameFi and NFT space using its oracle services.
In the meantime, LINK Marines, as the coin’s community proudly calls itself, are looking forward to Chainlink launching staking. Even though the exact date has not been announced yet, LINK whales have been purchasing this coin actively – by the end of October, the amount of wallets with more than 100,000 LINK has come to 459. This is the highest since 2017.
