The LINK token of the Chainlink project has just set a new all-time high above 20 dollars. Engaged in a phase of outperformance, the LINK is now catching up with the capitalization of Bitcoin Cash (BCH).
New ATH for Chainlink’s LINK
The LINK token of the Chainlink project has just reached new historical records. Within hours, the asset’s price shot up over 20% from $ 17.7 to over $ 21 , breaking its previous all-time high set at $ 20.
The new high for LINK is now set at $ 21.45 and its total capitalization of 8.25 billion is quickly approaching that of Bitcoin Cash at $ 9.25 billion.
Since its previous all time high , the LINK will have seen significant movements, its price having even returned to the border of $ 7 in the meantime.
In just 23 days, the LINK price rose by more than 165% , in a significant upward movement caused by the Bitcoin bull run (BTC) initiated at the end of 2020.
Analyst Vincent Ganne had notified in an article published in early January, the LINK was on the way to its historic records . The LINK thus entered a phase of outperformance vis-à-vis the BTC, after having forged a solid base at $ 10, the breakout of $ 13 indicated that the trend was not ready to stop .
The collaborations do not stop anymore
In addition to the technical aspect, the LINK benefits greatly from the fundamental advances of the Chainlink project. The supplier of price oracles remains the benchmark in its sector to this day.
Very recently, the stablecoin issuer Paxos has also partnered with Chainlink to use its oracles. Thanks to Chainlink’s infrastructure, Paxos wishes to develop the use of Paxos Standard (PAX) and Paxos Gold (PAXG) in the world of decentralized finance (DeFi).
It is difficult to list Chainlink’s collaborations with other companies as there are so many. The place that this project takes in the ecosystem is becoming more and more important every day , and is growing at a breakneck pace.
It is not so surprising that Chainlink is therefore riding this bull run of the markets . Now, the LINK is entering a price discovery phase , which means it has never explored the area above $ 20. So, he can still have some good surprises in store for us in the days to come, or retrace it down.
At the same time, other major projects are also experiencing colossal progress of this type. This is particularly the case of Polkadot and its DOT token , which impresses with its performance, the latter establishing a new ATH every day and having even exceeded Ripple’s XRP capitalization.