ChainLink (LINK) digital currency managed to break into the top five largest altcoins. According to the CoinMarketCap website, the capitalization of this cryptocurrency is now just over $ 4.856 billion.
LINK rate on Monday, November 9, rose to $ 12.4. ChainLink's closest pursuer is Binance Coin (BNB): the capitalization of this token exceeds $ 4.036 billion.
Within the next 24 hours, LINK can knock out the cryptocurrency Bitcoin Cash (BCH) from the fifth place in the rating, the capitalization of which is kept in the region of $ 4.913 billion.
Analyst Timothy Peterson tweeted that LINK is currently trading just above the key support zone ($ 12). A fall below this level is unlikely, as large investors are not interested in a more significant pullback of the coin.
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#ChainLink price trend based on Lowest Price Forward of $LINK priced in $BTC. 2nd pic is just a magnification. pic.twitter.com/mJDSOMzfTZ
— Timothy Peterson (@nsquaredcrypto) November 6, 2020
Over the past few months, the whales have bought 18.3 million LINK tokens. Such a strategy of large investors indicates that they are confident in the long-term growth of the altcoin value.
The same Timothy Peterson recently predicted LINK's rise to $ 20 by the end of 2020.