Chainlink to new All Time High – Altcoin rises 60% in a week
Some altcoins have been on a steady climb for several weeks that are taking them to new record levels. Cardano (ADA) and VeChain (VET), among others, were able to get positive news in the last weeks. Chainlink (LINK) has also found a new record level, after the recent record last week.
On the CoinPaprika website you can clearly see how the Chainlink price has been on an incredible climb in the last days. Chainlink was able to establish a new top today around $ 8.25. At the time of writing, the altcoin is still up 25% for the last 24 hours.
With a current market capitalization of approximately $ 2.5 billion, Chainlink has climbed to the eighth place in CoinPaprika’s ranking and the LinkMarines, the social media supporters of the altcoin, can cheer again. The market capitalizations of Chainlink, Binance Coin and Litecoin are very close together. Especially after the rise of BNB yesterday.
The main factors that pushed LINK’s price to a new record in the last week were:
- The many partnerships and the strong momentum currently driving the overall altcoin market.
- In 2020, Chainlink entered into several partnerships with companies within the cryptocurrency sector.
- On July 8, Chainlink announced a partnership with Nexo, a crypto investment company reportedly with 800,000 users, to deploy its Oracle solutions.
Chainlink co-founder Sergey Nazarov said:
We are excited to bring Chainlink’s secure and reliable Oracle solutions to Nexo’s popular lending platform, allowing users to independently verify the interest and collateral rates they should receive.
Also on the market of the very popular DeFi (Decentralized Finance) Chainlink is increasingly seen as a full replacement for Ethereum.
Furthermore, ChainLink was able to announce that it had entered into a partnership with Hedera Hashgraph and there was a very positive mention in a well-known crypto blog (Building hybrid blockchain / cloud applications) from Google that has a lot of readers.