Cryptocurrencies Price Prediction: Ethereum, Chainlink & Altcoins — Asian Wrap 24 June

Ethereum holders keep accumulating Ether ahead of ETF and new yield opportunities

Ethereum’s (ETH) long-term holders have continued scooping up Ether while Bitcoin’s long-term holders shed their holdings. New yield opportunities in Ether, and the upcoming ETF are likely behind the divergence in the behavior of the long-term holders of BTC and ETH. 

Chainlink supply on exchanges shoots up, LINK holders realize over $150 million in profits

Chainlink (LINK) supply on exchanges climbed to 230.43 million on June 21, a massive spike in a 24 hour period. Typically, an increase in the asset’s supply has a negative impact on price as it increases the selling pressure. 

These seven altcoins are down over 40% from their all-time highs, recovery likely with latest developments

Crypto market capitalization excluding Bitcoin is down 3% in the past seven days and nearly 10% in the past 30 days, per TradingView. The shrinking market capitalization indicates that capital is flowing out of altcoins, the altcoins have likely wiped out their value over time in the ongoing cycle. There is potential for recovery in altcoins that have improved fundamentals, reduced supply or improved emission schedule.