Early This Morning, The Price Of Chainlink (Link) Soared By More Than 39. 5%, Reaching A New Record High Of $ 8.48, Thanks To Which The Capitalization Increased To $ 2.5 Billion. The Creation Of The Absolute Maximum Was Influenced By Three Key Factors: New And Important Partnerships, Price Disclosure, And The Strong Momentum Currently Being Driven By The Altcoin Market.
On July 6, The Link Price Exceeded The Previous Record Level Of $ 5.31 And Officially Entered The Price Disclosure Phase, Which Usually Leads To A Rally Among Investors To The Basics Of Fomo (Fear Of Catching Up With A Good Opportunity).
As Soon As The Price Is Determined And The Asset Makes A Rally To A New Peak, The Probability Of An Uptrend Expansion Increases. B Exchange Rate A Few Days After Link Recorded A New Historical High, Its Price Rose By 40% From $ 5.31 To $ 8.48. Link’s Trading Volume Also Rose To A Level Not Seen Since April 2020, When The Bitcoin Price Recovered After An Intense Fall To $ 3750. B At That Time, The Demand For Coinbase Cryptocurrencies From Retail Investors Was Increasing. According To One Of The Traders, Reaching The $ 10 Link Is A Matter Of Time, And It May Take Place This Year.
During 2020, Chainlink entered into several important partnerships with companies from the crуptocurrencу sector.
Over the past two months, Chainlink has collaborated with such blockchain projects as Hedera Hashgraph and Matic Network. In addition, Chainlink was mentioned in a Google blog post called»Creating hybrid blockchain / cloud applications with Ethereum and Google Cloud”. After the Ethereum (ETH) rally, the altcoin market began to recover.
The stability of bitcoin provided a solid foundation for the recovery of altcoins after a year of stagnation. Since the first week of May, the price of ether has increased from $ 175 to $ 240, and it seems that the gradual recovery of its price has allowed the altcoin market to maintain its momentum.
Over the past 7 days, the dominance of bitcoin has fallen from 64.15% to 62.2%, which indicates an increase in the market capitalization of altcoins. Earlier, traders, including Peter Brandt, predicted that the altcoin season could start at any time in 2020. Strong solutions from leading altcoins, including Cardano (ADA), Chainlink, Tezos (XTZ) and Compound (COMP), have improved the situation in the cryptocurrency market.