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LINK falls by 26% after ‘Trump Pump’ fizzles away – What’s next?

Press Releases Crypto News AMB-Crypto LINK falls by 26% after ‘Trump Pump’ fizzles away – What’s next?

LINK has made impressive strides in network activity, but the exit of whales has put a dampener on the surge
Can retail capital and Trump’s advocacy give LINK the boost it needs?

Just two weeks ago, Chainlink [LINK] lit up the charts with a massive 21% single-day surge, thanks to a $1 million purchase by World Liberty Financial (WLF).

This explosive rally, supercharged by the “Trump pump,” pushed LINK into the spotlight as a key player in the intersection of politics and crypto. However, as quickly as the hype surged, it soon fizzled. And, that had a corresponding effect on the altcoin.

At the time of writing, LINK had retraced to around $22.8, with a bearish MACD crossover hinting at further downside. Hence, the question – How will the altcoin fare in the upcoming year?

LINK’s comeback is FOMO worthy

Over the last four years, Chainlink has made incredible strides. The number of addresses on its network has surged from 213k to 690k. Also, in December, its total value locked (TVL) crossed $1 billion for the first time.

What’s even more intriguing is the shift in LINK’s token distribution. Once dominated by big holders controlling 70% of the supply, that figure has since dropped to 48%. Meanwhile, retail investors have been stepping up too, with the same now holding 32% of LINK’s supply.

Source: IntoTheBlock

But, why is this significant? A recent AMBCrypto report highlighted Ethereum’s [ETH] increasing centralization, with whales wielding outsized control and keeping the price from breaking the $4k barrier. So, LINK’s move towards a more balanced distribution could set

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Author: Ripley G

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