The crypto market and the price movements of many cryptocurrencies have been significantly more exciting in the past few weeks than the months before. The reason for this is price increases that attract new investors and cause euphoria for people who have been in the crypto market for a long time. Meanwhile, the Bitcoin course looks like that of a stable coin.
LINK overtakes Litecoin (LTC) and Binance Coin (BNB)
In addition to the current extreme price rises in a large number of DeFi projects, a cryptocurrency in particular is attracting attention. Chainlink (LINK) has thrilled investors in the past few weeks with unstoppable price increases. The cryptocurrency seems to have no upward end and is breaking new all-time highs after another. Many other cryptocurrencies can only dream of it.
Chainlink (LINK) was trading around $ 2,00 at the beginning of the year. By early March, the currency had risen to $ 4,70 USD. But the big crash, triggered by the corona pandemic and the descent of the stock market, also brought the LINK price back below $ 2,00 USD. After the course recovered somewhat, the big rally began in mid-June.
The LINK course increased by 100% within just three weeks. This is not uncommon for small and rather unknown cryptocurrencies. In the top 20, or even the top 10, you rarely see that. In the last 24 hours alone, the price rose by 20%. An end to this rally is not in sight at the moment, because the cryptocurrency is on everyone's lips in social networks and the hype is enormous.
With the exchange rate rising from $ 4,00 to temporarily above $ 8,00, LINK overtakes the cryptocurrencies Crypto.com (CRO), Binance Coin (BNB) and Litecoin (LTC). With a market cap of over $ 1,5 billion USD, LINK is in 8th place.
Bitcoin is stable at $ 9,000 to. $ 9,300 USD
Meanwhile, the world's largest cryptocurrency is a bit more relaxed. In addition to short bursts upwards and small crashes below the $ 9,000 USD mark, not much has happened on the Bitcoin price in the past week.
After the Bitcoin price fell briefly to below $ 5,000 USD, also as a result of the corona pandemic and the crash of the stock markets, it recovered relatively quickly. Investors who entered at the right time can look forward to more than 40% profit.
But not much has happened since then. The price fluctuates between $ 9,000 and $ 9,300 USD and is more like a stablecoin in terms of price. Altcoins are therefore likely to be significantly more interesting for the majority of investors.
The following graphic shows the Bitcoin price trend over the past 30 days:
Markus from Kryptokumpel.de
Photo credit: pixabay.com | CC0