Chainlink (LINK) Tops $20 in 2-Year High, But What is Driving Momentum? 

After a solid week of gains, crypto markets are taking a breather, but one digital asset continues to make price progress. Chainlink (LINK) has reached a two-year high of $20 as whales continue to accumulate the asset.

Chainlink’s native token has reached its highest price since January 2022, topping $20 for the first time in two years.

Chainlink Momentum Continues

LINK hit an intraday high of $20.69 during the Monday morning Asian trading session, according to CoinGecko. However, it has since dipped back below the psychological price level but has reclaimed it again at the time of press.

LINK has gained more than 40% over the past month, making it one of the best-performing crypto assets at the moment.

On February 11, blockchain analytics outlet Lookonchain reported that the price of LINK has increased by around 15% since it was first accumulated by a “mysterious whale.”

Moreover, it reported that the whale has accumulated 5,587,368 LINK worth around $112 million from Binance via 55 addresses in the past six days.

Chainlink whale accumulation. Source X/@lookonchain

The Chainlink narrative has spread across crypto social media with bullish comments from prominent influencers and investors.

On February 11, “Satoshi Flipper” said LINK price action “is something for the history books,” adding that there is “still an easy 10X from here,”

“It’s not only one of the most important projects in the space, but it’s also one of the most undervalued and one of the least risky. I’m super comfy parking as much capital as I want there.”