Chainlink (LINK) Outperforms Bitcoin & Solana in Market Recovery
Chainlink (LINK) is on a positive stretch over the 24 hours, climbing 9% to reverse a 5% 7-day dropoff. Amid a crypto market recovery, LINK is even outperforming Bitcoin and Solana (SOL), as cryptocurrencies look to rebound ahead of Donald Trump’s inauguration. The incoming administration has investors turning to popular coins on the market like DOGE, SOL, and BTC. LINK, however, is topping them all.
Chainlink (LINK) price edged above the $20 territory on Tuesday, racing into a 10% surge as the crypto market received a major boost. Just last week, crypto whales were also buying in on LINK’s dip, and are currently reaping the recovery profits. Additionally, the anticipation of pro-crypto policies from the incoming administration, including a proposed zero-tax on US-based crypto projects and the expected approval of new crypto ETFs, has spurred Optimism in the market following a volatile start to this week.
Chainlink’s recent whale accumulation further bolsters bullish sentiment for the next week. The recent rebound from 20.36, signals that buyers are reclaiming control over bears in the market. This level serves as a crucial pivot point, and LINK is currently attempting to consolidate above it. If the asset remains above this point, a surge to $25 could come imminently.
With its continued development, there are high hopes for Chainlink LINK as the year continues. cryptocurrency market prediction platform CoinCodex is among the most optimistic for the crypto’s performance throughout January 2025. Specifically, the platform projects that it will settle at an average price of $23 for the month. Yet, it is also projecting a maximum price of $27 before the month ends. That would mark an increase of more than 36%.
Beyond January, the projections for LINK get even higher according to CoinCodex. The platform projects LINK to reach a high of $35 in February, up 66% from its $20 price. On the year, they expect a $48 high and a 138% jump from the corrected price it has hit to kick off 2025.
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