At the moment, most cryptocurrencies are experiencing a decline when there is a drop in value that again surprises the market due to the situation involving FTX and Binance hovering and becoming the market direction driver.
However, before this fall again occurred, several focused cryptocurrencies were seen to have managed to steal the attention of investors with the surge exhibited, among them Chainlink (LINK).
If judged, right after plunging to break the $5.29 zone in May, the LINK cryptocurrency managed to make a 75% recovery by climbing to the high of $9.20 reached earlier this week, most likely due to the activity of the LINK wallet over the past month.
It is reported that activity among large investors is one of the reasons the price increase occurred with the percentage of LINK supply held by addresses jumping to 23% in November from 18.2% in May.
In fact, the existence of a new project called "Chainlink Staking" also allows the price to jump higher.
This follows because Sergrey Nazarov, co-founder of LINK announced that he will launch the reform in December which can have a positive impact on investors.
Nevertheless, LINK insists that the new project only allows qualified or selected investors to stake into the pool this December.
Meanwhile, LINK recently announced on November 3 that it will sign an agreement with Seedify, the leading incubator launchpad for DLT games, non-fungible tokens (NFT) and Metaverse.
This collaboration with Seedify is said to help or support the development of the GameFi and NFT space through the oracle services it offers.
In the meantime, LINK price saw short-term gains as a result of the staking project and the deal, but is now making a slight decline hovering around the $7.30 price zone.
Meanwhile, Bitcoin (BTC) and Ethereum (ETH) plunged drastically following news related to crypto exchange FTX that Binance's chief executive officer intends to sell some of his holdings.
