Our column of price analysis and news of assets in the crypto world continues, today we focus on two projects in particular: MultiversX (EGLD), formerly Elrond, and Chainlink (LINK).
Summary
Prices and market statistics of crypto assets MultiversX (EGLD), formerly Elrond, and Chainlink (LINK)
The price of EGLD currently stands at US$40.31 with a market capitalization of US$1.1 billion. The trading volume for the past 24 hours is USD 81.2 million, while the circulating supply is 26.2 million EGLD.
The average holding time is 13 days, ranking MultiversX 48th in terms of popularity. The all-time high reached by this cryptocurrency was US$542.58.
However, over the past 24 hours it has dropped by 5.46%.
Over the course of the week, MultiversX showed a positive change of 24.94%.
Turning to the other crypto, Chainlink’s price currently stands at US$14.74, with a market capitalization of US$8.1 billion.
In the past 24 hours, the cryptocurrency has seen a trading volume of $1.6 billion and has a circulating supply of 556.8 million LINK. The average holding time for Chainlink holders is 78 days, ranking the cryptocurrency 12th in popularity.
Chainlink’s all-time high was US$52.88. In the past hour, the price has experienced a negative change of 5.41%, while over the past 24 hours it has increased by 3.32%. Over the course of the week, Chainlink recorded a remarkable positive change of 31.02%.
LINK finally breaks its accumulation phase in the Wyckoff pattern
Cryptocurrency analysts were surprised by the remarkable resilience of Chainlink‘s accumulation phase, which lasted more than a year.
LINK, the cryptocurrency that powers the decentralized oracle network, has shown remarkable performance recently, marking a significant milestone in its path.
Over the past week, LINK has steadily reached highs and held lows, culminating in a price of $14.9, the highest point in a week.
This unexpected surge has generated excitement in the cryptocurrency world as market participants closely watch LINK’s price dynamics. If LINK’s bulls continue to exert their influence, the cryptocurrency could reach the $18 mark, indicating a promising trajectory.
Cryptocurrency investor and trader Daan Crypto Trades, known for his insights, shared his thoughts on Chainlink’s performance.
He pointed out that LINK is adhering to the Wyckoff model, which involves a distinct accumulation phase. What amazed many was the extraordinary length of this accumulation period.
Daan Crypto Trades summed this up well by pointing out that the price has risen more than 150% since the retest of the range low, a rare feat in the cryptocurrency market.
Interestingly, the prolonged accumulation phase is a testament to Chainlink’s resilience and the growing demand for its decentralized oracular solutions.
This phase has been characterized by a deliberate and strategic accumulation of investor positions, reflecting an optimistic view of LINK’s future.
Such patterns are uncommon in the fast-paced world of cryptocurrencies and often indicate the accumulation of assets by smart investors anticipating potential long-term gains.
, ex Elrond, e Chainlink (LINK). ){kind=link}