ChainLink has risen for four consecutive days starting on August 5th, regaining its $20 price mark in the process. ChainLink has steadily increased from its low of $15.43 from August 3rd, reaching an intraday high of $21.46 at the beginning of Saturday.
At the time of pressing, ChainLink rose 8.25% in the last 24 hours to $21.04 to 32% per week. As ChainLink Price extended the rally, the volume of large transactions, an indicator that highlights whale activity, has skyrocketed significantly.
According to IntotheBlock data, ChainLink’s large transaction volume reached 60.76 million links or $12.1 billion, a surge of 863% over the past 24 hours.
ChainLink whales and shark wallets are increasing. It was also observed in a tweet on August 7th. When Link’s prices rose, whales and sharks were added to the bag. Over 27 link wallets have been added, representing an increase of 4.2%, over 100,000-1 million, over 27 link wallets, representing an increase of 4.2%. This holder class has held 0.67% more than the total supply as it has increased its holdings since its inception in August.
If you reach the $20 price, then you’ll see the $26 and $30 levels.
Chain Link Reserve has been released
This week, ChainLink announced the launch of ChainLink Reserve, a new upgrade focused on creating a strategic on-chain reserve for Link Tokens.
Chain Link Reserve aims to support the long-term growth and sustainability of chain link networks by accumulating link tokens through off-chain revenue and use of chain services from large organizations that adopt chain link standards.
This reserve is a chain smart contract on Ethereum that serves as an extension of payment abstraction and preserves the strategic reserve of links. Over $1 million has already accumulated links. This is expected to increase gradually over the coming months as more revenue is converted into links and placed in reserves.