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A crypto analyst believes Chainlink (LINK) will likely rise to $20, pointing to heightened trading activity. Meanwhile, Bitcoin Minetrix (BTCMTX) is on a bullish path. It has raised over $10.2 million in ongoing presale.
Chainlink on-chain activity points to bulls
A crypto analyst expects LINK to breach $20, citing high on-chain activity. So far, there are over 5,330 addresses collectively holding over $8.59 million of LINK.
To audit, the trader used the “In/Out of the Money Amount Price” tool. It is an indicator displaying how many traders are in profit at a given price.
The analyst noted that 8.59 million holders are “out the money” until $20, at which point he anticipates an increased sell pressure.
Per the chart data, $1.12 billion worth of LINK are in green, while $331.22 million worth of LINK sit in the red.
LINK is trading at $18.64–the highest since February 2022. The token is up 5.28% in the last day, and 27.93% this week.
Beyond this, LINK trading volume are also at the highest level since August 2022.
Generally, rising trading volume is net bullish for prices.
Trending Bitcoin Minetrix presale hits $10.2 million
Bitcoin Minetrix is a crypto cloud mining platform that enables users to earn Bitcoin (BTC) effortlessly.
The project works by users staking BTCMTX in exchange for Bitcoin mining credits, which they can burn for cloud mining power.
This process requires no technical expertise or hardware requirements.
Another benefit is that it removes space and noise constraints from the user.
Although Bitcoin Minetrix is not the first cloud mining solution, it does offer a unique security advantage over competitors.
Many Bitcoin cloud mining services have been snubbed for running inauspicious operations at the customers’ expense. Bitcoin Minetrix tackles this issue with its decentralized and user-owned BTCMTX token, which users simply stake and mine BTC.
Through BTCMTX staking, no cash changes hands, and everything is recorded on-chain and secured by Ethereum smart contracts.
The project has also been audited by a third-party blockchain security firm, further illustrating its legitimacy.
BTCMTX is available for $0.0132 in the current presale stage.
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