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John P. Njui • CHAINLINK (LINK) NEWS • July 14, 2020
Quick take:
Since mid-June, ChainLink (LINK) has more than doubled in value from around $3.65 to the new all-time high of $8.50 on the 13th of July. At the time of writing this, LINK is hovering around $7.50.
The rise of LINK in the crypto markets has been attributed to two factors. To begin with, ChainLink (LINK) has proven to be immune to the price movements of Bitcoin. Secondly, the LINK network continues to grow at an impressive rate. The team at Cane Island had found that the user growth rate on ChainLink has seen an increment of approximately 17% per month.
The incredible run of LINK in the crypto markets has resulted in the digital asset edging out several ‘heavyweights’ on Coinmarketcap. On its rise to the top 10, LINK has zoomed past the prominent digital assets of Stellar (XLM), Tezos (XTZ), EOS and Crypto.com Coin (CRO).
If the current bullish momentum of ChainLink is maintained, LINK could also edge out Binance Coin (BNB), Litecoin (LTC) and Cardano (ADA) in the near future.
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It is with this brief background surrounding the crypto market activity of ChainLink, that crypto traders are optimistic that LINK will hit $10 before Bitcoin retests $10,000. Their confidence in LINK outperforming BTC was captured in a poll by Timothy Peterson: an Investment Manager at Cane Island Alternative Advisors and a believer that LINK will outperform Bitcoin.
With three hours till the end of the poll, 66% of respondents believe that LINK will most likely break its all-time high of $8.50 and hit $10 before Bitcoin revisits $10,000. A quick glance at the daily LINK/USDT chart reveals that there is plenty of bullishness present around LINK.
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Original article posted on the EthereumWorldNews.com site, by John P. Njui.
Article re-posted on Markethive by Jeffrey Sloe
