Key Points:
Data from Lookonchain reveals a noteworthy development: on September 15, a total of 81 new wallets were created, which began withdrawing LINK from the popular exchange Binance on September 18. These wallets have successfully withdrawn a total of 4.7 million LINK tokens, valued at approximately $31.58 million.
The resurgence in Chainlink’s price has pushed it above the crucial $6.50 resistance level. While the token is currently undergoing a correction, its upward momentum is evident, with a new support level forming around $6.62.
However, Chainlink is now at a pivotal juncture, as it faces a decisive moment following a rejection from the supply zone at $7.05. This recent surge in LINK‘s price can be attributed to the Chainlink Cross-Chain Interoperability Protocol (CCIP), a groundbreaking development that provides Web3 developers with a secure and seamless interface for creating applications that can operate across various blockchains.
The CCIP leverages the robust Chainlink decentralized oracle networks, renowned for safeguarding substantial capital and facilitating over $8 trillion in transactions. This protocol was meticulously designed with the developer community in mind, incorporating advanced security features through the Risk Management Network and backed by Chainlink’s well-established oracle infrastructure.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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