Binance Launches Chainlink (LINK) Trading Pairs with Stablecoins USDT, TUSD and USDC
Just over an hour back, the folks over at Binance announced that the exchange will now be providing its customers with trading options for a number of new cryptocurrency-trading pairs such as:
The announcement was made via an official blog post on the company’s website. Trading for the aforementioned pairs commenced on 2019/01/16 at 6:00 PM (UTC).
— Binance (@binance) January 15, 2019
Despite Bearish Market Conditions, Chainlink (LINK) Continues Its Strong Performance
As can be seen from the chart below, even though the altcoin-sector at large has been suffering from insane bearish pressure over the past year or so, ChainLink (LINK) has continued to surge ahead and maintain its strong economic run— with the digital currency steadily gaining value over the course of the past six months.
Even though LINK is still far removed from it's all time-high-value of around $1.25 (per coin), a couple of hours back the token was trading for a respectable $0.43.
In regards to the matter, Timo Herring (an independent market analyst) was recently quoted as saying:
“If a +6 months long, organic uptrend by #Chainlink, while any other crypto is in a bear market, isn't telling to you, I can't help you. It's not hype via twitter or reddit, check the hashtags and reddit subscriber counts. There are bigger fishes accumulating. No dumb money in yet.“
How Has LINK Been Able To Maintain Its Strong Financial Performance?
Over the course of the past few weeks, LINK has attracted the attention of the global crypto community for its amazing BTC price rally— with the currency’s volumes accelerating all through January (2019), thereby suggesting more buying interest in the altcoin than ever before. Not only that, but quite recently LINK was also able to scale up to an impressive value point of 12,055 Satoshi.
From a technical standpoint, we can see that LINK is currently being supported by its BTC related trade activity— most of which is concentrated on Binance. Additionally, the rally being witnessed by LINK seems to resemble the recent market surge experienced by Factom (FCT) — another top-50 digital asset that went against prevailing sell-off pressure owing to its activity on Poloniex.
However, following its amazing market run, FCT has been on the downturn over the past few days — with the currency slumping from its recent high of $14.80 to around $6.70 (at press time)
Even though LINK is down 66% from its peak (and has lost more than 56% of its intrinsic value through the course of 2018), its overall performance has been much stronger than that of many other premier cryptos who have shed in excess of 90% of their ATH values.
Lastly, for those of our readers who may not be aware, ChainLink is essentially a token-based project that has been designed to provide customers with “reliable, tamper-proof oracles” that can help in the seamless execution of smart contracts.
At the time of writing this article, LINK is currently the 9th largest crypto-asset in the market by total capitalization.