- Perhaps the Alt-season 2020 has arrived with major altcoin outperforming
- Chainlink, LINK Token Becomes Top 10 Cryptocurreny
- LINK brakes its own all-time high record in recent times with a nearly 30 percent growth over the past 24Hrs
- The crowning cryptocurrency, Bitcoin still maintains its trend sideways in a narrow piece of a range of $9100 to $9400.
Chainlink, LINK Token Becomes Top 10 Cryptocurreny With Bullish Turn
Crypto space at present is considering Altcoins more seriously than ever before. Bitcoin was the only most favored cryptocurrency lately but with many Altcoins outperforming recently, traders are naming the current market scenario as ‘Alt-season 2020’.
However, this week began with an exciting entry of new crypto token, Chainlink (LINK). While LINK enters under the list top 10 cryptocurrencies of the Coinmarketcap with nearly 30 percent surge, crypto twitter is claiming LINK as the most bullish crypto asset.
This digital asset has gone up nearly by 30per percent in the last 24 hours. Interestingly, of about 40 percent in the past two days. As per the records, the price of this altcoin is rising from the beginning of this year. That being said, analysts expect the prices of Chainlink (LINK) to double this year. One of the onchian analysts, Cole Garner in his tweet said that the graph of Chainlink at present is witnessing a parabolic figure and whether the prices will crash as before or maintain its uptrend.
Yet another crypto trader, The Wolf of All Streets elaborates on the growing trend of Chainlink since Jan 2020. He adds that Chainlink could be a good option to consider for buy.
Possible Reasons for LINK Token Surge
This exciting uptrend of Chainlink could be due to several reasons, such as partnerships in recent times, surging volume, and price discovery. Essentially, Chainlink rose above $5 on July 06, 2020, and entered the price discovery phase which led to the ‘FOMO’ among the traders. Within a week, Chainlink recorded it’s new ‘All-time high’ price crossing $7.
More so, the firm recently penned a partnership agreement with Nexo, a crypto lender with approximately 800,000 users to deploy its oracle solutions. Responding to the collaboration, Chainlink co-founder Sergey Nazarov said,
“We’re excited to bring Chainlink’s secure and reliable oracle solutions to Nexo’s popular lending platform to enable users to independently verify on-chain the interest and collateralization rates they should receive”
Besides Nexo, Chainlink has also collaborated with blockchain projects and companies including Hedera Hashgraph and Matic Network.
You may find this interesting – Is Bitcoin the World’s Most Traded Cryptocurrency? Let’s See
Crypto Community is Expecting More
Chainlink with the surge in its price has left the whole crypto community on the clouds. Many traders are expecting a still better performance from the digital asset by the end of the year 2020. Interestingly, some of the influential crypto profiles on Twitter are raising the bar of expectation. One such profile is ‘Brasil Crypto1’ who tweeted that ‘they have converted over $2600 worth of Bitcoin into LINK.
Conclusively, Binance Coin(BNB) is also expected to follow Chainlink and both could rise above records in recent times. The future of the cryptocurrencies is uncertain but the analyst and the influencers with their predictions give an idea of the digital asset’s performance.
What’s your take on the possible future price of Chainlink LINK token? Let us know via Twitter