Chainlink (LINK) on a Price Discovery, Now Accounts for 4% of Crypto Market
The sky is literally the limit for the fifth-largest cryptocurrency by a market cap of nearly $6 billion.
By now, we all know that there is no price limit that Chainlink can’t break. LINK is keeping up with its decoupling from the broad crypto market beautifully.
While bitcoin has been in red, oscillating between $11,600 and $11,300, LINK went straight up.
Breaking yet another all-time high, which was set just this Monday, LINK has hit a new ATH today at $17.69. A slight retracement of 5% has been recorded for now as the digital asset trades under $17.
“Price Discovery continues,” commented analyst Rekt Capital about LINK’s uptrend adding, “The best thing about Price Discovery is that price needs some time to find a new All Time High.”
In the past seven days, this cryptocurrency has soared 70% and went up to 5th position, taking it over from Bitcoin Cash (BCH). The next target for LINK is Tether (USDT) and XRP.
The market cap of the digital asset has grown 437% in 2020, while a whopping 2,677% since the beginning of 2019. Interestingly, it now accounts for 4% of the overall cryptocurrency market.
LINK is actually the biggest performer of 2020 among the top cryptocurrencies.
Among the top 50 cryptos, however, LINK, which has gone up 821% doesn’t come up until the DeFi tokens BAND (5,610%), Elrond Network (1,061%), Hyperion (1,248%), Kyber Network (843%), Aave (4,939%).
For LINK, which is surging like crazy this year, it just a matter of time when the new highs come; the next target of $20 might also not be far off either.