Oracle service provider Chainlink native token $LINK has seen a surge recently as the crypto market witnessed a significant upward for almost 2 months. One of the key factors likely to affect $LINK price growth is the massive movement of tokens from the network’s wallet to exchanges.
$LINK has overcome the $6.2 resistance level. Hence, the traders will likely sustain the rally in the coming days. Furthermore, the Moving Average Convergence/Divergence displays a strong buy signal. Also, the ANZ group, one of the largest banking giants in Australia, has partnered with Chainlink to successfully complete its first transfer of tokenized assets.
$LINK will likely record more price gains in the coming days if the buyers continue to accumulate the tokens. These accumulations show heightened investor interest in Chainlink and will likely drive demand, and may increase the token’s price in the coming days.
At the time of writing this article, $LINK is trading at $6.75 with a market capitalization of $3.75 Billion and is up by 12.5% over the past week.