Analyst Michaël van de Poppe predicts a 90% increase in the LINK exchange rate

According to him, the price of the asset may rise from $15 to $25-30

19.01.2024 - 08:35

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The material is not an investment recommendation and is published for informational purposes only

What’s new? Cryptocurrency analyst Michaël van de Poppe believes that the rate of the native token of the decentralized network of oracles Chainlink (LINK) can jump by 90% of the current quotes. Thus, according to his forecast, the price of LINK will rise to $25-$30.

Source: Twitter.com

What else is known? Van de Poppe shared a chart according to which the LINK price could soon cross the $16 level, drop below $15, and then rise above the $18 mark. He added that as long as the asset remains above the support level between $13,5 and $14,25, the chance of double growth remains.

As of January 19 08:20 UTC, the asset is trading at $14,97 on Binance, down by 2,84% overnight, while adding 1,3% for the week (CoinGecko data).

In September 2023, Santiment experts recorded a local maximum of active LINK addresses, allowing a significant growth in the rate of the asset. In November, analysts noted that the price of the asset rose to the maximum since February 2022.

In early November, it was reported that Hong Kong’s largest conglomerate, Chow Tai Fook, would start using Chainlink’s developer Cross-Chain Interoperability Protocol (CCIP) to tokenize funds.

With CCIP, which was launched in July, banks can transfer assets and data between their own private and public blockchains, including Ethereum, Avalanche, Polygon, Arbitrum, Base, BNB Chain, and Optimism.

Australia and New Zealand Banking Group (ANZ), BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear, Lloyds Banking Group, SIX Digital Exchange (SDX), and The Depository Trust and Clearing Corporation (DTCC) already joined the CCIP. Together with Chainlink, the SWIFT system also conducted its own test of tokenized asset transfer between networks.

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