Chainlink (LINK) has surged over 15% in the last 24 hours amid a broader recovery in the crypto market. LINK is now trading above $18, reclaiming key technical levels after falling below $14 last week.
While investors are buzzed about LINK’s revival, many are also backing Bitcoin Minetrix (BTCMTX) as an altcoin that could pump next, given its groundbreaking Stake-to-Mine feature.
Chainlink Surges Above $18 as Analysts Eye Potential Run to $30
According to analyst Michael Van de Poppe, a higher low has now been confirmed on the weekly chart for Chainlink.
In a recent tweet, Van de Poppe noted, “If Ethereum picks up pace, we’ll see a massive breakout on Chainlink in the coming period.”
He believes that if Ethereum gains momentum in the coming weeks, it could spur a significant rally in Chainlink that may see the token run to $25 to $30.
This analysis lines up with the current technical picture for Chainlink (LINK).
After bottoming out at $13.59 last Thursday, LINK has reclaimed its 50-day exponential moving average (EMA) as well as its 0.764 Fibonacci level around $14.80.
Reclaiming these levels has opened the door for further upside for Chainlink (LINK).
Moreover, this boost has come amid a broader recovery in the crypto market, with Bitcoin (BTC) bouncing back above $43,000.
With key resistance levels now flipped into support and bullish momentum building, traders anticipate Chainlink (LINK) to make a run to the psychologically important $20 level in the near term.
Chainlink’s CCIP Primed to Unlock Blockchain Potential
Chainlink has much to look forward to in 2024, specifically the growing importance of its Cross-Chain Interoperability Protocol (CCIP).
CCIP is a standardized framework designed to enhance communication and interaction between different blockchains.
In simple terms, CCIP ensures the secure and seamless transfer of data and tokens across various networks.
This includes functionality like token transfers, where tokens can be locked on one chain and minted on another without changing the total supply.
CCIP also enables arbitrary messaging, allowing smart contracts on separate chains to send data back and forth to trigger actions.
Crucially, CCIP is decentralized and runs on Chainlink’s Oracle network.
As more chains emerge, CCIP will be vital to preventing blockchain networks from becoming completely independent. Instead, it will help connect these networks.
This is a major milestone on the path to more interoperability in the blockchain space. Many investors believe CCIP could be a key demand driver for Chainlink (LINK) in 2024 and beyond.
Viral Bitcoin Minetrix Passes $10m Funding Milestone as Investor Hype Ramps Up
While the long-term prospects look bright for Chainlink (LINK), many traders are also shifting focus to the presale of an exciting new altcoin called Bitcoin Minetrix (BTCMTX).
Bitcoin Minetrix is creating a buzz in the crypto community thanks to its innovative tokenomics and focus on accessibility.
The platform is debuting a Stake-to-Mine mechanism where users can stake BTCMTX tokens to earn mining credits.
These credits can then be burned to gain access to Bitcoin mining power. This allows everyday investors to participate in the lucrative activity of BTC mining.
Bitcoin Minetrix also has a built-in staking protocol that enables holders to earn attractive yields on their tokens.
Between staking rewards and mining returns, Bitcoin Minetrix offers multiple income streams – a desirable trait for any altcoin.
In just four months since its presale launch, Bitcoin Minetrix has already raised over $10.1 million, demonstrating the immense hype around the project.
Investors can currently grab BTCMTX tokens for just $0.0132, with purchases accepted in ETH, USDT, or credit/debit cards.
After the presale, BTCMTX is expected to list on leading exchanges. Moreover, Some traders predict an explosive rally upon its debut.
YouTube analyst Jacob Bury even described it as the “best crypto to buy now.”
With presale momentum showing no signs of slowing and market conditions turning bullish, Bitcoin Minetrix could be positioned for an exciting year ahead.
Visit the Bitcoin Minetrix Presale
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