Bear Market Bites: Chainlink Loses 10%, Further Downturn To $6.80 Feared
The cryptocurrency market continues its summer swoon, with major coins like Bitcoin tumbling to four-month lows. Chainlink (LINK), a key player in the decentralized oracle network space, has been especially hard-hit, dropping 25% since the beginning of June. But is this a buying opportunity, or the precipice of a steeper decline? Related Reading: Polkadot Under Fire: 20% Price Drop Follows $87 Million Spending Outrage This Chart Pattern Looms Large Technical analysts are scrutinizing Chainlink’s chart, with a particular focus on the dreaded “Head and Shoulders” pattern.....
Related News
The Bitcoin market is experiencing a wave of uncertainty as a recent analysis by CryptoQuant reveals a significant shift in investor behavior. Roughly $2.4 billion worth of Bitcoin, likely acquired by investors this year, has moved within the network, sparking debate about the reasons behind the exodus. Related Reading: Bear Market Bites: Chainlink Loses 10%, Further Downturn To $6.80 Feared Short-Term Jitters Drive Sell-Off Experts believe these outflows are driven by short-term investors who made a foray into the market in early 2023. Back then, anticipation surrounding Bitcoin....
The XRP community is abuzz with excitement after a whale, a major investor, acquired a hefty 30 million XRP tokens. This significant purchase coincided with a price uptick for the altcoin, which clawed its way back from a recent slump. While some analysts see this whale activity as a bullish signal and predict a surge towards $0.50, others urge caution due to the ongoing SEC lawsuit against Ripple Labs. Related Reading: Bear Market Bites: Chainlink Loses 10%, Further Downturn To $6.80 Feared A Shot In The Arm For XRP The 30 million purchase, valued at roughly $12.7 million, sent a wave of....
Amid the turbulent crypto bear market, Chainlink whales are continuing to show their hand by refusing to back down. This has led to a rapid rise in not only the holdings of these Chainlink whales but the number of whale addresses associated with the altcoin as well. Chainlink Whale Addresses Rise By 6% In a […]
Chainlink has been severely underperforming Bitcoin as of late, despite its enormous and devoutly loyal community and continued fundamental growth. This isn’t uncommon for the crypto, as it often trends independent from the rest of the market, seeing some of its largest rallies during the depths of the bear market seen over the past few […]
Blockchain.com has announced on Thursday that it was slashing a quarter of its global workforce, multiple sources disclosed. The Luxembourg-based cryptocurrency exchange had swiftly grown during the bull market, hiring 450 new employees over the course of 16 months. As the bear market continues to wreak havoc, the company has decided to reverse course, laying […]