Chainlink (LINK) up 10%, Shows One of Best Performances on Market - BitcoinEthereumNews.com
Arman Shirinyan While Ethereum, Solana and other networks are experiencing issues with market performance, Chainlink becomes most profitable asset in last 24 hours One of the biggest surprises for the cryptocurrency merkado was the return of Chainlink in the profitability leaderboard as the token gained more than 12% to its value in the last 24 hours. According to perpetual futures contracts on Binance, LINK has gained more than 35% to its value in the last eight days of trading, making it one of the strongest positions on the cryptocurrency market. Such a strong rise could be tied to the link‘s introduction of a staking mechanism and updated roadmap. The on-chain data suggests that whales are the main buyers of the tokens. Following the release of the staking mechanism, Chainlink developers expect to reward their users, increase the community’s participation in the networks growth and empower node operations. Source: TradingView But in addition to the fundamental growth of the network, there are numerous market-related factors that might have helped LINK to gain a foothold above $8. Ads Indicators reversed way before update Despite the big release and upcoming anouncements, tagapagpabatid like the Relative Strength Index changed their direction at least a week before news of upcoming features. Unfortunately, the price