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How High Will Chainlink Price Go in October?
The trend for Chainlink price has been very indecisive in the last week and month, but it seems to have a better picture in the broader setting for October, as it has grown from $10.60 to $11.13—a gain of almost 4%.
Some forecasts even show Chainlink breaking above the $12 point by the beginning of next month. Further predictions suggest that in 2025, the Chainlink price could slide within the corridor of $10 to $15.
Chainlink Price to Break Out in October, Eyes $13
Chainlink has been among the best performers for the week, appreciating as it followed the broader market rally and breaking out above key resistance. The contracting Bollinger Bands promise a potential upside beyond the $13 level in October, while the converging MACD indicator favors the same approach to the positive zone. But first, Chainlink price, in order to fulfill latest price predictions, needs to overcome the resistance to advance further.
Chainlink has been doing exceptionally well lately, primarily due to several key network developments. Factors supporting LINK’s price upside bias have included the introduction of staking, scaling of its data Oracle network, and its latest addition, Secure Mint.
At the time of the last update, the Chainlink price was $11.17, down 1.34% in the last 24 hours but up over 5.3% in a week. The big question is: Could the upward move help this token burst past the pivotal resistance, falling at $13?
Technical analysis with indicators gives a sell signal for both short- and long-term Chainlink outlooks. However, that does not impede the coin from leaving about 53% green days in the last month of trading. Its price volatility in this period stands at about 5.75%.
Bullish Momentum Supported by Technical Analysis
Several reasons substantiate this bravado. Firstly, Chainlink’s exchange reserves are low, and one only can sell a small portion of the total supply. This scarcity could add to an impending rally because only limited tokens would be available on the exchanges.
Secondly, the Chainlink network has also seen increased active addresses and transaction counts, indicating increased demand for this digital cryptocurrency. More noticeably, whale activity has spiked, or heavy investment interest.
Currently, there has been an imbalance in traders’ positions, with a majority selling the token while others taking on long positions. Analysts suggest that this might be a source of a short squeeze if the Chainlink price broke over resistance, pushing short sellers to cover their positions.
LINK Token Gains Momentum as Whales Buy In
Some crypto analysts see the token as one of the few investment opportunities currently available, especially at the current entry points. Some, in fact, are confident in notable growth potential based on technical patterns that could lead to the appearance of price action similar to the previous all-time high.
Just a few days ago, in a strategic move to further secure its bridge and increase its adoption, Ronin, the EVM blockchain for gaming, implemented the Chainlink CCIP. Another client is purchasing tokens from the open market, driving demand and possibly setting the stage for a Chainlink price explosion.
Moreover, Santiment reported a recent whale accumulation of the token following a market correction. In general, this reflects the conviction in the future value of an asset and, therefore, the demand, which drives up the price. Large holders have increased from 489 to 502 in the first week of October, which is impressive, which means whale interest in the coin is on the rise.
Teuta
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Despite its stagnant price, some crypto analysts remain confident that the XRP price can increase 1000x from its current level. A 1000x price increase would represent a rise to $500 for XRP, which is undoubtedly an ambitious price target considering its current price. This article explores whether the crypto could eventually reach this price target.
Will A 1000X XRP Price Increase Happen
A 1000x XRP price increase can eventually happen as the crypto market continues to experience significant growth. A rise to $500 for XRP heavily depends on how much the crypto market grows and how soon it achieves this growth. For context, a $500 XRP means the crypto will have a market cap of $28.3 trillion based on its current circulating supply of 56.65 billion coins.
In reality, a 1000x XRP price increase seems unlikely at the moment, considering that the crypto market is valued at just around $2.3 trillion. However, the market will continue to expand as time passes, opening up the possibility of XRP setting its sights on this price target. Interestingly, Ripple CEO Brad Garlinghouse predicted earlier in the year that the crypto market would double in size and reach $5 trillion by year-end.
Another way in which XRP could reach this price target is if there were more deflationary mechanisms in place to help remove a significant amount of coins from circulation. This is why members of the XRP community have, at different times, called on Ripple to burn its escrowed funds based on the belief that this could trigger a significant rally.
Moreover, it will make a $500 XRP more feasible since fewer coins are in circulation. Token burns could be pointless if there is no actual demand for the asset. In XRP’s case, the crypto looks poised to enjoy massive demand with the potential launch of XRP ETFs. In line with this, crypto analysts like BarriC predict that the XRP price can reach $1,000 if an XRP ETF is approved.
What Will Make A 1000X Price Increase More Likely
The launch of US XRP ETFs will provide a major boost for the XRP price and could eventually be one of the catalysts for the 1000x rally. Depending on these funds’ success, their presence in the XRP ecosystem could lead to a supply shock that sends XRP flying. Besides these ETFs, Ripple will also have a role to play if the coin is to reach $500.
Ripple has centered its payment service around XRP, which continues to provide a bullish outlook for the coin. Analysts predict that the crypto firm could, at some point, steal a significant share of the market from SWIFT in processing cross-border payments. This development could lead to a massive surge in XRP’s demand and contribute to the 1000x price increase in the process.
In the meantime, the Ripple SEC lawsuit must end as the legal battle hinders the crypto firm’s progress, especially in the US market. Ripple CLO Stuart Alderoty recently disclosed the next steps in the appeal. Based on the timeline, the case could run till year-end 2025 or the beginning of 2026.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
With the crypto market again buzzing, there are questions about whether the Ethereum price can reach $5,000 this year, a price level that would mark a new all-time high for the crypto. However, ETH reaching $5,000 depends on some factors, which will be explored in this article.
Will Ethereum Price Reach $5,000 This Year
From a fundamental analysis perspective, several events and happenings support the ETH price reaching $5,000 this year. For instance, Ethereum’s co-founder Vitalik Buterin recently outlined a roadmap for key technical improvements to the network. Vitalik proposes lowering the staking requirement to one ETH.
This will allow greater participation in the Ethereum network and make it more decentralized. Such development is also bullish for the Ethereum price as it will increase the number of ETH tokens staked, potentially leading to a supply shock as more coins get removed from circulation.
Another factor that supports a price surge to $5,000 this year is that Ethereum whales are still bullish on ETH. Santiment data shows that these whales control over 44% of the crypto’s supply. This indicates that these investors anticipate that the ETH price will rise significantly in this market cycle.
IntoTheBlock data also shows that these whales have been actively accumulating ETH even when the price remained tepid. The large holders’ netflow has surged by almost 50% in the last seven days, indicating that whales are withdrawing more ETH from exchanges than they are depositing. Withdrawals from exchanges suggest they are looking to hold for the long term.
On the other hand, it is worth mentioning a couple of fundamentals that paint a bearish picture for Ethereum and could prevent the ETH price from reaching $5,000 this year. One is that other networks are currently stealing mindshare from Ethereum. For instance, SOL recently overtook ETH in weekly and daily DEX volumes.
Ethereum has thrived as the home of decentralized finance (DeFi). However, its dominance in the DeFi space is at risk, with networks like Solana on its heels. Ethereum potentially losing its dominance to Solana will ultimately lead to a decline in ETH’s utility.
The Spot Ethereum ETFs are also currently bearish for the Ethereum price as they continue to witness significant outflows. On October 15, they saw $12.7 million in net outflows despite the crypto market rallying on the day.
This indicates the outflows these funds have witnessed before now weren’t necessarily because of the market conditions but more likely because institutional investors haven’t warmed up to ETH as they did with Bitcoin. SoSoValue data shows that the Spot Ethereum ETFs have witnessed $554 million in net outflows since they launched in July.
From A Technical Analysis Perspective
Crypto analysts like Mikybull Crypto have predicted that the Ethereum price can reach $5,000 and even surpass it. Mikybull Crypto recently stated that ETH’s run to $6,000 will kick off soon as the crypto’s price is about to break out. However, his accompanying chart suggested that the rise to $5,000 and then $6,000 might not happen this year.
Crypto analyst Ali Martinez also recently predicted that the Ethereum price could rally to $5,000 and then $6,000. He noted that every bounce of this channel’s lower boundary has historically led to an average 130% price increase for Ethereum.
The analyst added that if the pattern holds, ETH could rally to $6,000 if the key $2,300 support level stays intact. However, his accompanying chart showed that the rise to $6,000 is unlikely this year. Crypto influencer Poseidon believes the Ethereum price surge will be the “most hated rally” when it happens.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Trump family’s token project, World Liberty Financial, debuted in a very weak fashion on its first day, reaching just 4% of its $20 billion sales target while the website itself – crashed.
Amidst all the fanfare and a promotional drive led by Donald Trump, sales have netted close to $11 million since it launched quietly on Tuesday at 12:40 UTC, having sold just over 792.36 million tokens.
World Liberty Financial Token Sale Crashes and Fails to Gain Traction
A new cryptocurrency venture, World Liberty Financial, backed by Donald Trump and his family ran into serious issues from the outset early Tuesday. This includes several website crashes that limited user access in the crucial first hours.
Although the platform was down for most of the first few hours, it could attract close to 2,900 investors. Some 344 million WLFI tokens were sold to around 3,000 unique wallets in the first hour. The project has since gained some 6,000 more holders, per Etherscan data.
That project saw its token buys increase by over 180M after Trump announced the World Liberty Financial token sale. Unfortunately, that has yet to translate into any significant momentum. At a current price of $0.015 per token, buyers are averaging less than $1,000 in purchases. That represents a small amount at the least and not precisely indicative of high-stakes interest.
An Ethereum wallet attributed to the project holds more than $8 million in ether and nearly $3 million in a mix of other tokens, mainly stablecoins. That’s a tepid reception, to say the least, for a space where even meme coins and others are gaining millions within days, if not hours, of their launch. The project could raise $300 million at a $1.5 billion valuation.
WLFI Token Faces Lack of Interest Due to Restrictions
Part of the subdued enthusiasm might come from the nature of the World Liberty Financial token itself. It is designed as a non-transferrable governance token on the platform. Also, DeFi functions of borrowing, lending, and providing liquidity pools are not alluring to investors looking at quick profits.
Because of this, it significantly restricts the WLFI token’s desirability as an investment. Since one cannot speculate on its value and then sell it at a later date for a higher value, this has dampened enthusiasm for the token. First among quitters were investors seeking quick returns on their investments.
World Liberty Financial closely aligns with Donald Trump’s campaign, which vows to place America at the crypto forefront. That means if he wins the election in November.
Most traders view a potential Trump victory as good news for the crypto space. When weighed up against the current administration under not-so-crypto-friendly Kamala Harris, Trump is presently favored to win. Polymarket odds stand at 59% for Trump and to 40% for Harris.
Teuta
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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