Chainlink’s native token surges to a new all-time high over the past few hours as altcoins made some big moves on this Monday morning, announcing a strong Defi growth as well. In our latest Chainlink news, we are reading some more about the price analysis.
The prices for Chainlink’s native token skyrocketed over 19% over the past day and hit a new all-time high. From the intraday low of just below $20, LINK surged to reach its highest ever price of $23.60 as per the data on Tradingview.com:
“@chainlink has solved the biggest challenge for the implementation of smart contracts – connecting blockchains to real world data. $LINK price is $23.55 $USD – 24hr volume of $2.52 Billion $USD. $LINK is up 17.20% in 24 hours. $LINK – New ATH $23.55.
— ƊÓȠ. (@Don_ChainLink) January 17, 2021”
The major move up means that chainlink gained about 37% over the past week and 65% over the past 30 days. The community under the name “Link Marines” is extremely bullish and even predicted that LINK will hit a top-three position by the end of March. In order for this to happen, LINK has to flip a few more assets and increase its market cap by over $15 billion. It looks impossible but in the crypto space, everything is possible. LINK has to flip Litecoin as it is just $300K behind in terms of a market cap according to CoinGecko. Chainlink is the eighth spot with a market cap of $8.9 billion ahead of Bitcoin Cash.
LINK provides pricing oracles for the decentralized finance sector and it continues expanding now in terms of data feeds and services. More defi protocols are going to chainlink for its standard data oracles like platforms that already adopted the feeds including Neutrino, Paxos, Opyn, NULS, Poolz and SynLEV. Independent industry researcher under the Twitter handle “The Crypto Oracle” cited the growth of DeFi as a huge contributor behind Chainlink’s success:
“It’s truly one of the main engines to DeFi’s growth, and its network effect & data costs will be shared across projects & chains.”
Chainlink launched a Chinese website as well which could be driving some of the momentum in Asia right now. LINK is not the only crypto asset that makes huge moves at the moment. Binance Coin made a 9% increase and settle slightly under $47 a few hours ago.
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