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Chainlink (LINK) Jumps 5.74% Amid Whale Accumulation and Reserve Launch, Fueling Bullish Momentum
Chainlink (LINK) Jumps 5.74% Amid Whale Accumulation and Reserve Launch, Fueling Bullish Momentum
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Chainlink LINK News -
Chainlink's LINK token surged 5.74% to $21.93 as institutional investors accumulated positions and the platform launched its new Reserve mechanism. Wallets holding 100,000-1 million LINK increased their stakes by 4.2% in August, absorbing 0.67% of the circulating supply—a strong indicator of potential sustained price growth.
The chainlink Reserve, launched on August 7th, has already gathered over $1 million in LINK tokens to reward network operators. The announcement sparked an immediate 14% price surge, though the RSI at 71.89 now signals overbought conditions. Traders remain bullish, citing Chainlink's expanding real-world utility as the key driver for further upside.
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