Chainlink: Deciphering the “new partnership” and “voting interest” of LINK holders

  • Chainlink announces a new partnership with Blueberry.
  • The RSI and stochastics were oversold and option interest increased.

link chain [LINK] It has become a much talked about topic in the crypto space lately. Blueberry, which unifies the DeFi experience by aggregating and automating the best strategies (which space has to offer), has announced a partnership with Chainlink.

Blueberry joins Chainlink BUILD to accelerate adoption of automated LP strategies on Uniswap v3. Through this new partnership, Blueberry will provide network fees and other incentives to Chainlink service providers as part of Chainlink Economics 2.0.

111.28 times more on the cards If LINK reaches the Bitcoin market cap?

Interest in whales increased

In addition, whales have recently shown interest in Chainlink. According to WhalesStats, a popular Twitter account that posts updates related to whale activity, it was revealed that LINK was one of the “top 10 most bought tokens among the 100 largest ETH whales in the last 24 hours.”

Surprisingly, LINK managed to attract a lot of interest without posting any promising gains in the past week. to me CoinMarketCapLINK price has fallen by more than 3% in the past seven days. At the time of publication, it is trading at $5.74 with a market capitalization of over $2.9 billion.

Trend reversal soon?

A look at LINK’s on-chain metrics highlights why whales are interested in the token. Some metrics suggested price increases in the last days of the year.

CryptoQuant data It revealed that LINK’s Relative Strength Index (RSI) and Stochastics were oversold, which is quite bullish. In addition, LinkNet deposits on exchanges were down compared to the 7-day average, indicating less selling pressure.

how many links You get 1 dollar?

Santiment’s chart also indicated that some other things were working in LINK’s favor, which may have played a role in gaining electoral attention.

For example, positive sentiment regarding LINK has registered an increase over the past week. In addition, LinkBinance’s funding rate also remained relatively high, indicating a surge of interest from the derivatives market. However, LINK development activity decreased significantly, which was to some extent a negative signal for the network.

Source: feeling

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