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A whale has been spotted aggressively accumulating LINK, the native token of the decentralized oracle network Chainlink, according to blockchain tracking firm Lookonchain. Lookonchain reports that a whale suddenly created 30 new wallets to accumulate $34.1 million worth of LINK tokens from Binance. “Suspicious LINK accumulation spotted! Over the past 5 days, 30 newly created wallets have withdrawn 1.37M LINK ($34.1M) from Binance.” Source: Lookonchain/X At time of writing, Chainlink is trading at $24.04, up 34% in the last month. Earlier this week, Chainlink released Smart Value Recapture (SVR), a solution aiming to allow DeFi solutions to recapture non-toxic Maximal Extractable Value (MEV) from the leading oracle’s price feeds. “Based on real-world testing, we believe Chainlink SVR can expect to achieve a realistic value recapture rate of approximately 40% (i.e., for every $100 that would have been leaked via liquidation MEV, $40 was r...

Prominent crypto trader Michaël van de Poppe this week noted still-depressed valuations for crypto oracle project Chainlink (LINK) relative to market leader Bitcoin. Poppe believes the current technical positioning represents the early stages of a pending bullish cycle. In his tweet, the trader highlighted strong weekly price action for the asset after an extended period of lateral ranges.  Overall, the valuation of $LINK is very low compared to Bitcoin. It's literally at the start of the bull cycle. Great weekly candle, and I suggest we're breaking out of this range in the coming 2-3 months to 6700 sats. pic.twitter.com/Zc3ZGlxOrp — Michaël van de Poppe (@CryptoMichNL) March 2, 2024 Poppe contends that with Bitcoin itself showing signs of a macro reversal, the tempo looks set to pick up for altcoins like LINK that have lagged in early 2023 trading. And with valuations still markedly below peak cycle marks, he sees sizable headroom for multiple expone...