The cryptocurrency market has seen increased commentary about the imminence of 
an altcoin season over the past week, with the Chainlink price performance a 
major contributor to the conversation. The LINK token, which has had a rough 
ride this year, seems to have roared back to life over the last few days. 
Despite facing rejection around the $10 mark earlier in the week, the 
Chainlink price appears to have finally broken the psychological resistance 
after strong action on Friday, May 8th. A prominent crypto analytics firm has 
pinpointed potential catalysts behind LINK’s recent price resurgence. LINK 
Exchange Supply Drops By 10% Since Early April: Santiment In a recent post on 
the social media platform X, Santiment identified the drivers for Chainlink&#8217;s 
price to reach $10.48, its highest market value since January. According to 
the market intelligence firm, the price jump in the past day has pushed the 
LINK token into the top 15 largest cryptocurrencies by market capitalization. 
Related Reading: Bitcoin Faces Massive Long Liquidation Imbalance As $15 
Billion Sits Below Price Santiment revealed that a spike in Chainlink mentions 
in social media discussions over the past week might have played a role in the 
altcoin’s price resurgence. The analytics firm noted that Chainlink&#8217;s social 
volume reached a three-month high during the week. Indeed, an increase in 
social media comments and volume can signal improving investor sentiment for a 
cryptocurrency. However, investors might want to watch for extreme levels of 
social commentary, which could signal a local top, as the market tends to move 
in the opposite direction of the crowd. Furthermore, Santiment highlighted the 
recent decline in the Chainlink supply on centralized exchanges as another 
catalyst for its price breakout. According to the latest on-chain data, 
approximately 13.5 million LINK tokens have flowed out of cryptocurrency 
exchanges in the past five weeks, bringing down the exchange supply by more 
than 10.5% since early April. Typically, increased outflows from 
cryptocurrency exchanges are considered a bullish indicator, which could 
signal fresh accumulation or a shift in investor holding strategy (as 
investors with long-term horizons often hold their assets in non-custodial 
wallets). Hence, the Chainlink price could return to higher levels if the 
exchange outflow trend continues. Chainlink Price Overview As of this writing, 
the price of LINK stands at around $10.38, reflecting a more than 5% surge in 
the past 24 hours. Meanwhile, the altcoin has been one of the best-performing 
cryptocurrencies in the past week. Data from CoinGecko shows that the 
Chainlink price is up by nearly 14% on the weekly timeframe. Related Reading: 
Samourai Wallet Founder Writes From Prison Asking Bitcoin Community For Help — 
Family Is Out Of Options Featured image from iStock, chart from TradingView

Chainlink Price Surges Above $10 For First Time Since January — Details

The Senate Banking Committee plans to mark up the CLARITY Act on May 14, 
giving the stalled crypto-market-structure bill its clearest path this year 
toward a committee vote. The hearing would move one of Congress’s most closely 
watched digital-asset bills from private negotiations into a public amendment 
process, where lawmakers are expected to test whether […]
The post Bankers are scrambling as Senate schedules CLARITY Act markup for May 
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Bankers are scrambling as Senate schedules CLARITY Act markup for May 14

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Trust for private placement appeared first on Crypto Briefing.

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Broad-based earnings growth across all sectors suggests a more sustainable 
market rally, potentially reducing reliance on mega-cap tech.
The post Corporate America posts record earnings, fueling US stocks&#8217; rally 
appeared first on Crypto Briefing.

Corporate America posts record earnings, fueling US stocks’ rally

The Ujah case underscores the urgent need for stronger consumer protection in 
the UK&#8217;s rapidly evolving and vulnerable crypto market.
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The escalation undermines regional stability, complicates diplomatic efforts, 
and decreases the likelihood of Israel&#8217;s timely withdrawal.
The post Israeli strikes near Beirut escalate conflict with Hezbollah, 
ceasefire dissolves appeared first on Crypto Briefing.

Chainlink Price Surges Above $10 For First Time Since January — Details

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