Chainlink with the token LINK is one of the largest crypto projects worldwide. Since yesterday, it has also been one of the few digital currencies to reach a new all-time high. The LINK course is currently unstoppable and knows only one direction.
Chainlink (LINK) on the way to the top 10
The majority of cryptocurrencies are still far, sometimes up to 80% or even 90%, from their all-time high. Most of these record highs were reached during the big crypto boom in 2017, before the big crash came in 2018. But Chainlink (LINK) is an exceptional case. After the rocket was launched a few days ago, the course simply cannot be stopped and reaches a new all-time high.
In the past seven days, the LINK course has grown by 40%. And all this while cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) only move sideways. A few days ago the LINK price was still at $ 4,50 USD, a LINK token is currently being traded for $ 6,25 USD.
LINK celebrated its all-time high on March 7, 2020 at $ 4,70. This has now been broken in the past few days and weeks and the course does not appear to return there. The following graphic shows the price development over the past seven days:
With a market capitalization of $ 2.412.962.670, the cryptocurrency LINK is in 12th place, just behind EOS (EOS), Crypto.com Coin (CRO) and Binance Coin (BNB). With the current price development, however, it is only a matter of time before Chainlink makes it into the top 10. Depending on how all other cryptocurrencies develop, a placement in the top 5 cannot currently be ruled out.
Chainlink with a high number of partnerships
There are several reasons for the price increase of the LINK token. One of them is the growing popularity of DeFi applications. Even if Chainlink has nothing directly to do with decentralized finance, Chainlink's price feeds serve as the basis for many exchanges and apps for reliable prices. The Chainlink team reports on new integrations almost every day on Twitter.
Another is the national one Blockchain service network (BSN) China. Because this uses Chainlink and their oracles to provide companies with easy access to off-chain data. The integration of Chainlink should make it easier for companies and governments to implement their off-chain data in the blockchain network.
Members of the BSN is China's State Information Center, China Mobile Communications Corporation, China UnionPay Co. Ltd. and Beijing Red Date Technolog Co. Ltd.
China's national Blockchain Services Network (#BSN) is integrating chainlink as the preferred oracle network to provide @BSNBase systems access to off-chain data. As part of this collaboration, @irisnetwork and @SNZ Holding also wants to contribute technical integration support.
- Chainlink - Official Channel (@chainlink) June 23, 2020
Markus from Kryptokumpel.de
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