During the preparations for the 2023 summit, the leading cryptocurrency reached up to $42,800 and it was expected that the markets would rise before the data to be announced on Friday. The expected rise occurred and it was observed that the cryptocurrency market showed a strong recovery.
The excitement expected to increase in the cryptocurrency markets in 2024. The main reason for the increase in demand in December was the approaching new year. Especially the Chainlink (LINK) community, which is one of the major players in the RWA field, is eagerly counting down for the 2024 bull season.
Chainlink has experienced a significant increase in the number of new addresses since the beginning of September. The number of new addresses increased from 467 to 3,044 within three months, showing a 650% increase. This significant increase in user adoption demonstrates the potential for price increases over time.
Interest from big investors is also increasing. Big investors, known as whales, made a $143 million purchase in a short period of time. In addition, the expectation that the stake pool will be further expanded supports optimism for 2024.
Breaking the strong selling wall of Chainlink (LINK) Coin’s price at $15.8 and $16.3 is crucial for an impressive and stable rally. In the event of a possible pullback, investors gathered between $14.4 and $14.9 can hold the price. However, if these levels are lost, it is likely to fall to $13.2 and $12. At the time of writing, as Bitcoin (BTC) moves towards new highs, the price was at $15.48.