Chainlink’s Price Increases By 45% In 24 Hours : Proves Its Space In DeFi

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • LINK is currently ranked 6th in terms of market capital just ahead of Cardano (ADA).
  • LINK’s price jumped from $9.53 to $14.09, marking a total of 45% appreciation in its prices.
  • Analysts have anticipated that Chainlink’s price may reach the $20 levels by the end of this month.

Chainlink is a blockchain-based fintech company that was established by SmartContract Chainlink Limited SEZC. Its native digital asset LINK is an Ethereum based token that aims at facilitating decentralised network applications by connecting their smart contracts to external sources. Amidst BTC’s super hyped price rally, the LINK token has proven to be one of the fastest-growing cryptocurrency. In just a matter of a day, LINK’s price jumped from $9.53 to $14.09, marking a total of 45% appreciation in its prices. An all-time high of $14.46 was set yesterday followed by which its price was pulled back to $13 levels. 

LINK 6th Largest Token Ahead of ADA

Currently, the token is trading at $13.69 and is up by 1.1% in the last 24 hours. LINK is currently ranked 6th in terms of market capital just ahead of Cardano (ADA). The total market capital stands at $5,240,288,245 and the daily trade volume is $2,325,946,491. Chainlink has already added a total of 120% to its value as of the last month and the gains from the last year have already been appreciated by a total of 500%.

This makes Chainlink the handiest token withinside the pinnacle 10 listings to have a double-digit benefit withinside the remaining 24 hours. Moreover, this adds to the success of the Chainlink project which by some people was called ‘overhyped’. 

Chainlink’s Price May Reach $20 Levels By The End Of The Month

Analysts have anticipated that Chainlink’s price may reach the $20 levels by the end of this month. The cryptocurrency news agency, Sentiments yesterday in a tweet revealed that the token had reached an all-time high of both price and active addresses (which was 15.6k+ at the time of tweet). According to the tweet, LINK was trending #1crypto asset in the Santiment’s feed. It also added that there’s no prediction as to when this impressive rally will end for the Chainlink’s token.

Risk Involved With LINK’s Growing Value

Timothy Peterson of Cane Island Alternative Investors has briefed about the possibility of LINK hitting the $32 mark by the end of the year. However, he has also highlighted the fact the investors buying LINK at such high levels must be prepared to risk more than 50% of their assets. The chartered alternative investment analyst constantly warned that LINK can be a very bubbly asset and right now it seems even more bubbly. 

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