Whales Buy $20M in LINK as Market Recovery Has $38 in View

The cryptocurrency market had certainly struggled since the turn of the calendar, despite high hopes for the new year. That changed this week, with a host of assets turning around in a big way. One of the biggest movers was Chainlink; with Whales buying up $20 million in LINK, the overall market recovery has $38 in view.

Chainink was among the most interesting cryptocurrencies entering 2025. The asset looks to be one of the big players in the ongoing tokenization trend, completing a highly publicized pilot project with JPMorgan, Franklin Templeton, and BNY Melon. Now, with the market enjoying a reversal, LINK looks to be one of the big leaders.

Also Read: Chainlink to Breakout? LINK Eyes 37% Jump Before January End

Chainlink Eyes $38 as Crypto Market Rebounds: Where Will LINK End January 2025?

The arrival of 2025 brought with it high hopes for the digital asset industry. Although those are still expected, the start of the year proved rocky, to say the least. With cryptocurrency liquidation ravaging the market, there were concerns regarding the potential for some assets to bounce back.

Those have been squashed regarding the price potential of Chainlink, as whales have bought $20 million in LINK as the ongoing market recovery has $38 in view. Specifically, large holders of the cryptocurrency have purchased a remarkable 1.3 million LINK, according to Santiment data.

Also Read: Chainlink Reversal Has Analyst Projecting LINK to $30: But When?

That led the way for Chainlink’s ongoing recovery. Indeed, its rebound outperformed Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Over the last 24 hours, the token is up 10%, according to CoinMarketCap. Moreover, it is a steep difference from the 30% decline that took place over the last 30 days.

That certainly looks to have it back on track or some optimistic price predictions. Chief among them is CoinCodex. Specifically, the crypto price projection platform expects LINK to target $34 by the end of January. That would indicate a 67% ROI from its current position.

That isn’t where the gains are likely to end for Chainlink. Alternatively, the platform projects a $38 high for February. Moreover, the platform expects that to be the 2025 high until it surges to a remarkable $522 all-time high in April.