LINK Price Soars 40% After Trump’s Crypto Venture Purchases 220,000 Tokens In 15 Minutes
Cryptocurrency markets witnessed a significant increase in Chainlink (LINK) price on Monday following a major acquisition by World Liberty Financial (WLFI), a cryptocurrency business associated with President Donald Trump.
Trump’s world of free finance drives LINK price higher
In a rapid series of transactions completed in just 15 minutes, World Liberty Financial purchased 220,000 LINK tokens for a total value of $5.63 million, according to Chinese journalist Wu Blockchain.
This strategic move also comes with additional acquisitions, including 13,000 Aave (AAVE) tokens worth $4.41 million and 37.267 million TRON (TRX) tokens worth $8.86 million.
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The buying pressure generated by these transactions resulted in a significant 44% price increase for LINK in two weeks, and an immediate increase of over 11% in just 24 hours.
But despite this bullish momentum, LINK’s price is still about 49% below the all-time high of $52.70 reached during the 2021 bull run, and is currently hovering above the $26 mark.
in a social media posts On X (formerly Twitter), WLFI detailed the acquisitions and said they were made to commemorate the inauguration of Donald J. Trump as the 47th President of the United States.
The post highlighted additional purchases including $47 million worth of Ethereum (ETH), $47 million worth of wrapped Bitcoin (wBTC), and similar amounts of AAVE, LINK, TRX, and Ethena (ENA).
How Chainlink Doubles Value
The Trump family’s involvement in the cryptocurrency space has sparked excitement among bullish LINK investors, boosting confidence in the token’s prospects.
Analysts such as Michael van de Poppe also expressed their views, noticed LINK has recently experienced a standard 30% correction – a pattern that has occurred more than 15 times in previous cycles. Nonetheless, van de Poppe expects Chainlink’s price to rise toward the $35 mark as market conditions stabilize.
Market expert Ali Martinez adds to positive sentiment report A massive withdrawal of more than 770,000 LINK tokens from cryptocurrency exchanges on Tuesday shows growing investor confidence in LINK’s potential and that the upward trend observed over the past month may continue.
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Satoshi Flipper also expressed his opinion on LINK’s price trend, Express Be optimistic about the token’s adoption and future performance. He noted that the emergence of a falling wedge pattern could push LINK to new all-time highs, suggesting that a price doubling from current levels is feasible.
Flipper emphasized Chainlink’s importance within the broader cryptocurrency ecosystem, arguing that it would be a mistake to ignore the potential for further upside before reaching new highs.
Interestingly, Aixbt recently point out LINK’s monthly relative strength index (RSI) is currently at 67, close to the key 70 level that previously triggered a massive 375% price surge.
This setup reflects conditions that pushed the price from $3.50 to $20 in the earlier cycle. If history repeats itself, this surge could push LINK towards the $124.80 mark, nearly three times its current peak.
Featured images from DALL-E, charts from TradingView.com
