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Chainlink (LINK) has seen its price surge more than 50% in the last week following significant market activity tied to a wallet linked to Donald Trump. The wallet deployed $10 million USDC to purchase LINK, Ethereum (ETH), and Aave (AAVE). This move has started speculation about potential future investments and the broader implications for the market.
LINK is trading at $30, reflecting a remarkable 40% increase over the past week and reaching its highest level in nearly two years. The Trump-associated wallet’s ongoing engagement with altcoins, coupled with Chainlink ‘s dominance in Real-World Assets (RWAs), suggests the potential for continued price growth.
This surge in development activity coincides with LINK’s rising on-chain momentum. Data from Glassnode points to increasing active address momentum and futures open interest (OI), which recently hit an all-time high of $770.27 million. These metrics underline growing confidence in Chainlink’s fundamentals, complementing its price rally.
A huge #Chainlink pump is imminent!$LINK pic.twitter.com/G5wl5dP6te
— Bitcoin Buffalo (@bitcoinbuffalo) December 15, 2024
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Trump-Linked Wallet Buys LINK Amid Price Surge
Analysts from LookOnChain spotted big transactions by a wallet linked to World Liberty Financial. This DeFi project is reportedly tied to the Trump family. The wallet bought millions of dollars in Chainlink (LINK), AAVE, and much more.
Trump's World Liberty(@worldlibertyfi) bought 37,052 $LINK($1M) at $27 and 685 $AAVE($246.7K) at $360 again.
Since Nov 30, #WorldLiberty has spent:
30M $USDC to buy 8,105 $ETH at $3,701;
10M $USDC to buy 103 $cbBTC at $97,181;
2M $USDC to buy 78,387 $LINK at $25.5;
1.25M… pic.twitter.com/l9nnv9Ry94— Lookonchain (@lookonchain) December 13, 2024
These investments were made through a multi-signature wallet. This has sparked debates on whether the Trump family or their professional team made the decisions. Donald Trump’s crypto support is well-known, but his direct involvement is unclear. Reports suggest his sons Barron and Eric may have influenced these actions.
The price is also at an ATH of the past two years, currently trading at $29.43. This is still lower than its old ATH, $53, reached in May 2021.
(LINKUSDT)
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