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- As we know that, the majority of the assets in the crypto market are now trading in the red, but Chainlink is reporting a little growth.
- Chainlink is now standing at $7.11 and making a crypto expert to make a positive assertion about the decentralized finance (DeFi) token’s upcoming days.
Particularly, crypto trading analyst and expert Michael van de Poppe looks very confident regarding the decentralized oracle network’s LINK token, representing that it is the correct time to buy it, as he mentioned in his tweet on September 22.
He further explained:
“Chainlink between $6-8 is even now a chance of a lifetime.”
Remarkably, Chainlink entered the year confidently – recording its all-time high of $28.1 in January, but the bears got the better of it and dropped the price by a massive 74.8% since then.
The recent price of Chainlink is $7.11. According to Van de Poppe, it is the right opportunity and a good time to purchase it. The current price demonstrates an increase of 2.10% on the day, even though it is still a 6.19% low from the past seven days.
Chainlink holds the 21st position.
The current market capitalization of the market is at $4.03 billion. According to the data gained by CoinMarketCap, Chainlink holds the 21st position as per capitalization.
At the same time, whales look to be influenced by Chainlink, as the addresses bearing 10,000 to 1 million LINK tokens have enhanced their supply by over 3% in four months, as per the on-chain and social metrics platform Santiment which further elaborated that:
“This is really a hugh growth, and it is the highest percentage of LINK held by those addresses in just three years.”
It is noteworthy that Chainlink has earlier made headlines when it publicized it would not be supporting any proof of work forks of Ethereum anymore before the Merge upgrade that officially listed the network’s shift to the proof of stake consensus mechanism.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
