Whales Are Buying Altcoins That Explode 195% In 2023: The Rally Could Continue in 2024!

While detailing his plans for the coming year, cryptocurrency analyst Ali Martinez pointed to the Chainlink movements that strong investors have flocked to.

Citing charts shared by Santiment, Ali Martinez thinks that buying by whales could set the price of LINK up for a bounce. According to the analyst, whales holding between 100,000 and 1 million tokens bought 7 million LINKs worth more than $105 million in just one week.

The analyst also revealed that his short-term target for the Chainlink price is $20. The 15th-ranked cryptocurrency by market capitalization was trading at $15.87 at the time of writing.

As Koinfinans.com reported, LINK is poised to leave behind a good year, with an increase of more than 194% since the beginning of the year. While the project and the token have witnessed many important developments this year, they have shown a very good growth momentum.

In July, Chainlink launched the Cross-Chain Interoperability Protocol (CCIP), which aims to provide an easy way to build cross-chain applications and services and provide simplified token transfers.

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