tradingkey.logo

LINK Price Soars 40% After Trump’s Crypto Venture Purchases 220,000 Tokens In 15 Minutes

NewsBTCJan 22, 2025 8:38 AM

On Monday, the cryptocurrency market witnessed a significant surge in Chainlink (LINK) prices following a remarkable acquisition by World Liberty Financial (WLFI), the crypto venture associated with President Donald Trump. 

Trump’s World Liberty Financial Propels LINK Price Up 

In a series of rapid transactions completed within just 15 minutes, World Liberty Financial purchased 220,000 LINK tokens, totaling an impressive $5.63 million, according to Chinese reporter Wu Blockchain. 

This strategic move was accompanied by additional acquisitions, including 13,000 Aave (AAVE) tokens valued at $4.41 million and 37.267 million TRON (TRX) tokens worth $8.86 million.

The buying pressure generated by these transactions contributed to a notable 44% uptrend in LINK’s price over a two-week period, with a more immediate increase of over 11% within just 24 hours. 

But despite this bullish momentum, LINK’s price remains approximately 49% below its all-time high of $52.70, achieved during the 2021 bull run as it is currently hovering little over above the $26 mark.

In a social media post on X (formerly Twitter), WLFI detailed these acquisitions, stating that they were made to commemorate the inauguration of Donald J. Trump as the 47th President of the United States. 

The post highlighted additional purchases, including $47 million in Ethereum (ETH), $47 million in wrapped Bitcoin (wBTC), and similar amounts in AAVE, LINK, TRX, and Ethena (ENA).

How Chainlink Could Double In Value

The involvement of the Trump family in the crypto space has sparked excitement among bullish LINK investors, fostering renewed confidence in the token’s prospects. 

Analysts like Michael van de Poppe have weighed in, noting that LINK has recently experienced a standard 30% correction—a pattern seen more than 15 times in previous cycles. Despite this, van de Poppe anticipates an upward price movement for Chainlink toward the $35 mark as market conditions stabilize.

Adding to the positive sentiment, market expert Ali Martinez reported a significant withdrawal of over 770,000 LINK tokens from crypto exchanges on Tuesday, suggesting that investors are increasingly confident in LINK’s potential and a possible continuation of the uptrend observed over the past month.

Satoshi Flipper also chimed in on LINK’s price action, expressing optimism about the token’s adoption and future performance. He noted the emergence of a falling wedge pattern that could propel LINK toward its all-time high, suggesting that a price doubling from current levels is feasible. 

Flipper emphasized the importance of Chainlink in the broader cryptocurrency ecosystem, arguing that dismissing the potential for further gains before reaching new highs would be a mistake.

Interestingly, Aixbt recently pointed out that LINK’s monthly Relative Strength Index (RSI) is currently at 67, approaching the critical 70 level that previously triggered a dramatic 375% price surge. 

This setup mirrors the conditions that drove the price from $3.50 to $20 in an earlier cycle. If history were to repeat itself, such a surge could push LINK toward the $124.80 mark, nearly tripling its current peak.

LINK

Featured image from DALL-E, chart from TradingView.com

Reviewed byTony
Disclaimer: For information purposes only. Past performance is not indicative of future results.

Related Articles

tradingkey.logo
tradingkey.logo
Intraday Data provided by Refinitiv and subject to terms of use. Historical and current end-of-day data provided by Refinitiv. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.
* References, analysis, and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgement of the analyst, without considering the investment objectives and financial situation of the investors.
Risk Warning: Our Website and Mobile App provides only general information on certain investment products. Finsights does not provide, and the provision of such information must not be construed as Finsights providing, financial advice or recommendation for any investment product.
Investment products are subject to significant investment risks, including the possible loss of the principal amount invested and may not be suitable for everyone. Past performance of investment products is not indicative of their future performance.
Finsights may allow third party advertisers or affiliates to place or deliver advertisements on our Website or Mobile App or any part thereof and may be compensated by them based on your interaction with the advertisements.
© Copyright: FINSIGHTS MEDIA PTE. LTD. All Rights Reserved.