Chainlink up 600% in 2020 compared to 80% for Bitcoin and 200% for Ethereum

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Last Updated on 26 October 2020 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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For all the attention that Bitcoin got last week as the king of crypto broke through the $12k and then the $13k barrier immediately after, some would forget that within the top 10 of CoinMarketCap there are two altcoins that have performed even better in that timeframe. They are Litecoin (LTC) and Chainlink (LINK).

Especially that last one is surprising as it is a far cry from all the negative attention that Chainlink got in the month of September. At the time, everyone was mocking LINK for its fall from grace. As the DeFi hype overtook all crypto news back in August, Chainlink was for a short period of time the leading DeFi coin and rose to a price of $20.

Eternal nemesis Zeus Capital however was sure it would fall back to lower levels and when the food coin scandals hit, Chainlink took a hit just like other DeFi coins. At a certain point, it lost some 50% from the top and the first mentions of a possible bubble graph started appearing on social media.

Advertentie.

Longer period

However, the Link Marines abided their time and waited during the month of September apparently, building a good base around the $9-10 level. In the past few week, Chainlink rose back up to a value of $12 and is still up some 600% for the year, compared to 80% for Bitcoin and 200% for Ethereum.

It just goes to show that although you may think something in the cryptosphere is going bad, over a somewhat longer period (2020 is in its tenth month now), the rise in value is unmistakable.