The price of chain links is rising to an all-time high due to the continued DeFi growth

Chainlink’s LINK token prices have increased over 19% in the past 24 hours, bringing it to a new all-time high. From an intraday low of just under $ 20, LINK has hit its all-time high of $ 23.60, according to Tradingview.com.

Chart – Tradingview.com

@chainlink has solved the biggest challenge for the implementation of smart contracts – connecting blockchains with data from the real world. The LINK price is $ 23.55 – a 24-hour volume of $ 2.52 billion. $ LINK is up 17.20% in 24 hours. $ LINK – New ATH $ 23.55.

pic.twitter.com/9s4Nzyjq1T

– ƊÓȠ. (@Don_ChainLink) January 17, 2021

The big move means Chainlink is up a whopping 37% in the last seven days and 65% in the last 30 days.

The community known as “Link Marines” is overwhelmingly optimistic and even predicts that LINK will reach a top 3 position by the end of March.

Rank 3 incoming

– ChainLinkGod.eth (@ChainLinkGod) January 17, 2021

This requires flipping five more assets and increasing market capitalization by over $ 15 billion. It’s a huge challenge, but in all likelihood, LINK will flip Litecoin next as it’s only about $ 300,000 behind in terms of market cap, according to Coingecko.

Chainlink currently ranks eighth with a market capitalization of $ 8.9 billion, just ahead of Bitcoin Cash.

Latest Chainlink updates

Chainlink, the price oracle for the decentralized financial sector, continues to expand in terms of data feeds and services. The latest price feed oracle is LTC / USD, which uses aggregated data from a number of sources to provide a more accurate price for the asset.

More and more DeFi protocols are using Chainlink as the standard for data oracles. The newest platforms for adopting their feeds include NULS, Opyn, Neutrino, Paxos, Warp Finance, Poolz, and SynLev – and that was just last week!

Independent industry researchers who selected the Twitter handle “The Crypto Oracle” cited DeFi’s growth as one of the catalysts for Chainlink’s success.

“It’s really one of the main drivers of DeFi’s growth, and the network effect and data costs are split between projects and chains.”

Chainlink has also just launched a Chinese website which may also be fueling some of the momentum in Asia right now.

Other crypto performers

LINK is currently not the only crypto asset taking big strides. While most of the top ten are trading relatively flat that day, Binance Coin hit 9% a few hours ago to hit its own all-time high of just under $ 47. Another BNB burn is imminent, which is usually a boost to momentum as it diminishes supply.

Polkadot and Cardano are still climbing after a solid weekend and demands for “old season” are starting to swing again as Bitcoin dominance falls.

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