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Chainlink (LINK) and TRON (TRX) turned in solid performances in February 2024, posting double-digit gains. However, even as Bitcoin (BTC) breaches $55,000, Chainlink and TRON have largely stabilized at their current ranges.
On the other hand, an unidentified Shiba Inu (SHIB) whale has joined the scores of new registrants to presale crypto sensation DeeStream. The platform is building the first decentralized live streaming and video distribution protocol.
Chainlink whales selling
It has been observed that since reaching a monthly high of $20 in February, Chainlink whales have been selling off their holdings.
The persistent selling at resistance levels has suppressed Chainlink prices, with the most recent one causing an 8.3% decrease over the past week.
Some analysts have noted similarities between the current price chart and a speculative bubble, suggesting that the previous $20 price level may have represented a new paradigm.
There is concern that the current price movement might be a “dead cat bounce,” potentially leading to Chainlink taking a nosedive to the low $10s should the trend persist.
TRON stabilizes at $0.14
On Feb. 20, daily revenues for TRON reached a record $2 million, but shortly after, Circle, the issuer of USD Coin (USDC), suddenly stopped issuing tokens on the TRON.
Despite Circle dropping TRON, TronScan data shows an increase in network active addresses, with 2 million active accounts recorded as of Feb. 22.
Moreover, TRX prices are holding steady at $0.14.
DeeStream presale in progress
DeeStream addresses issues encountered on popular streaming platforms such as Twitch, Kick, YouTube, and TikTok by leveraging a decentralized approach and a robust web3-powered infrastructure.
The platform incentivizes content creators by providing diverse opportunities for earnings and monetization through its native token, and directing the lion’s share of the revenues to users.
Contrast that to YouTube or TikTok, which take a substantial cut of the profits that content creators make.
Observers expect DST to rally in 2024 once the token, currently trading for $0.04, lists. The DeeStream presale is in stage one.
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