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After a solid week of gains, the crypto markets are taking a breather, but one cryptocurrency continues to make progress in price. As whales continue to accumulate the token, Chainlink (LINK) reached $20, its highest level in two years.
LINK Peaks at $20
Chainlink’s native token LINK has reached its highest price since January 2022, surpassing $20 for the first time in two years. According to CoinGecko, LINK hit its intraday high of $20.69 on Monday morning. However, it has since retreated below the psychological price level.
LINK has become one of the best-performing cryptocurrencies in its current position, gaining more than 40% over the past month. On February 11, blockchain analytics firm Lookonchain reported that LINK’s price had increased by about 15% since a whale first began accumulating it. It was also reported that the whale accumulated approximately 5,587,368 LINK worth about $112 million from Binance over 55 addresses in the last six days. Chainlink spread on social media with bullish comments from leading influencers and investors.
Expectations of a Tenfold Increase in LINK
On February 11, an analyst known as Satoshi Flipper in the crypto markets said that LINK’s price movement is “something for the history books” and mentioned that “from here, a 10X is still easy.” The expert stated the following:
This is not only one of the most important projects in space, but it is also one of the most undervalued and least risky. I am extremely comfortable parking as much capital there as I want.
Chainlink also shared an adoption update over the weekend. The team reported new chain integrations including Dypius, Eigenpie, Origin Protocol, Paxos, UKISS Technology, Umami DAO, and Volley Token. They also announced seven integrations of four Chainlink services across seven different chains. These were Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism, and Polygon.
