While Bitcoin resistance is trying to exceed $ 11,400-11,500, Chainlink (LINK) is getting higher. According to CoinMarketCap data, in the last 24 hours, popular altcoin gained 12% against the US dollar. Against BTC, LINK approached 9.5%.
With this latest rise, the asset has become the ninth largest cryptocurrency in circulation. Outshine Binance Coin (BNB) and Crypto.com Coin (CRO).
Chainlink Rises Above $ 9
For the first time in its multi-year history, LINK’s price rose above $ 9.00 on Monday. Local high levels of assets reached $ 9.40, according to data on TradingView.com.
This increase comes after Chainlink’s strong pullback after reaching $ 8.94 in mid-July. Like many other altcoins, LINK got its share of volatility in Bitcoin and Ethereum prices.
LINK is trading at $ 9.16 as of the writing of this article, and has dropped slightly from local summits (the all-time high).
According to Santiment, the blockchain analytics firm has increased in the direction of an increase in trade volume and social sensitivity, which may indicate that Chainlink is an area where it can recover. Still, what he can show is that a short-term summit can be reached.
Cryptocurrencies and assets in other markets are sometimes at the peak of sudden increases in social sentiment and trade volumes. Analysts are trying to bring together what’s coming for popular altcoin.
While Bitcoin and Ethereum became relatively stagnant, it broke the all-time high. There are also some fears about the over-expansion of the asset.