Chainlink and TRON’s February Performances
Chainlink (LINK) and TRON (TRX) exhibited commendable performances in February 2024, achieving double-digit gains despite the recent stabilization of their prices.
Chainlink Whales’ Selling Activity
Following a monthly high of $20, Chainlink whales have engaged in selling their holdings. This persistent selling pressure at resistance levels has hindered price growth, with the latest sale resulting in an 8.3% decline over the past week.
Analysts have drawn parallels between the current price pattern and speculative bubbles, speculating that the $20 price point may have marked a peak.
Dead Cat Bounce Concerns
There is apprehension that the current price movement could be a “dead cat bounce,” potentially leading to a significant drop in Chainlink’s value to the low $10s.
TRON Stabilizes at $0.14
TRON’s daily revenues reached a peak of $2 million on February 20. Shortly after, Circle, the provider of USD Coin (USDC), discontinued token issuance on the TRON network.
Despite this, TronScan data reveals an increase in network activity, with 2 million active accounts recorded as of February 22.
TRON’s price has remained steady at $0.14.
DeeStream Presale Gains Traction
DeeStream, a decentralized live streaming and video distribution protocol, has garnered attention with its presale. The platform seeks to address shortcomings of existing streaming platforms by leveraging a decentralized structure and web3 infrastructure.
DeeStream empowers content creators by offering diversified earning and monetization opportunities through its native token, DST.
Unlike platforms like YouTube and TikTok, which take a substantial portion of creators’ earnings, DeeStream allocates the lion’s share of revenue to users.
Analysts anticipate a surge in DST’s value once it is officially listed. The DeeStream presale is currently in Stage 1, with DST trading at $0.04.
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