In this rather important week, which involves a Federal Reserve rate decision meeting and plenty of expected economic commentary, cryptocurrencies are generally reacting in a low-volatility manner. This has surprised many, including myself, given the typically high-beta moves these digital assets provide investors.
Nonetheless, as of 12:30 p.m. ET, ChainLink (CRYPTO: LINK) is one cryptocurrency seeing notable gains, surging 6.1% higher over the past 24 hours. This move follows reports that large investors continue to show interest in ChainLink, with whale activity reportedly hitting a four-month-high this past weekend. Additionally, ChainLink and MasterBlock, a Portugal-based accelerator program, announced a partnership aimed at accelerating the growth of Web3 today.
Greater interest among deep-pocketed investors is always great. However, today's price action with ChainLink appears to be tied more closely to this partnership announcement than anything else.
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On Another Low-Volatility Day, Here's Why ChainLink Is Surging 6% Higher