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You are here: Home / Archives for Chainlink (LINK)

Chainlink (LINK)

Chainlink Holders Suffer Over 80% In Losses: Is A Market Bottom In Sight?

May 27, 2023 by Ammar Raza

Renowned cryptocurrency analyst and consultant Katherine recently took to Twitter to share a fascinating observation regarding Chainlink, one of the leading digital assets in the ever-evolving crypto space. 

According to data sourced from Intotheblock, an esteemed analytics platform, Katherine highlighted that an astounding 80% of Chainlink holders currently find themselves in the undesirable realm of loss.

Data from @intotheblock shows that more than 80% of Chainlink holders are at a loss. The last time this happened was in December 2022, when price dropped below 6$. Could this indicate a potential market bottom? 🤔 pic.twitter.com/IcUdLGLjf4

— Katherine🔶 (@Katherine_XBT) May 25, 2023

This revelation beckons attention, as the last instance of such a predicament occurred was in December 2022. During that period, the price of Chainlink plummeted mercilessly, sinking below the $6 mark. According to Katherine, could this striking similarity be an omen, hinting at the possibility of an impending market bottom?

The notion of a market bottom holds significant implications. In simple terms, it signifies the lowest point of a downtrend, ultimately leading to a potential reversal and subsequent upward movement.

If the current statistics mirror the past, it could serve as a pivotal moment for Chainlink, with the prospect of an impending price recovery.

Nevertheless, the fact that a considerable majority of Chainlink holders currently grapple with losses demands attention and prompts further analysis. 

However, as LINK’s price trajectory unfolds, market participants eagerly await developments that could offer glimpses of a brighter future or further turbulence in the ever-shifting crypto seas.

Chainlink Price Analysis

LINK is currently showing bearish signs, as per the latest data from CoinMarketcap. The cryptocurrency is trading at $6.30, down by about 0.22% in the last 24 hours. However, the weekly chart recorded a decline of about 3.30%, indicating some market volatility. 

In addition, LINK’s trading volume has witnessed a decrease of 28.28%, reaching $100,273,734, whereas the market capitalization has decreased by 0.66%.

LINK 1D graph coinmarketcap 4
Source: CoinMarketcap

According to the PricePredictions site, an analysis of Chainlink’s technical indicators reveals a bearish trend in the long term. Consequently, experts predict a projected decrease of $0.10912 in the price of Chainlink over the next 7 days, with the anticipated value reaching $6.20 by June 2nd, 2023.

On the other hand, in the short term, a machine learning algorithm has identified a bullish trend for LINK. Therefore, investors should anticipate a slight increase in its value within the upcoming hours.

Related Reading | Litecoin Soars: 160M Transactions Milestone & Anticipation Builds For Halving Event

Filed Under: News Tagged With: Chainlink (LINK), Cryptocurrency, Price Analysis

The Rise of Chainlink’s Developer Community: Unleashing Opportunity Amidst Bearish Tides

May 18, 2023 by Saeed Ul Hassan

Chainlink’s developer community has experienced an unprecedented surge, offering a glimmer of hope amidst the prevailing bearish sentiment. 

Santiment, a renowned crypto analytics firm, has revealed that the number of contributors involved in Chainlink’s development has reached an all-time high, suggesting a growing interest in the project’s potential.

image 55

Despite Chainlink’s downward trajectory since March, recent indicators indicate a potential stabilization near the projected bottom. Daily active addresses have remained relatively stable, reflecting a potential halt in the decline. Moreover, trading patterns have shown signs of opportunity, with a timid accumulation replacing the previous drop in addresses.

image 53

While the sentiment may not be overwhelmingly positive at present, the persistence of the token’s price serves as a promising sign. Notably, there has been a lack of substantial transactions over 1 million units for an extended period, while larger investors, colloquially known as “sharks,” exhibit increased activity.

image 54

Observers are advised to monitor the continuous activity of Chainlink’s dedicated developers closely. The long-term outlook showcases exceptional work, suggesting that the project’s value and potential adoption could position it as the leading oracle for years to come.

Additionally, the Santiment report contends that an increase in the holdings of major investors would signify a positive turn amidst the prevailing uncertainty. Conversely, if such accumulation fails to materialize, it may indicate that the coin has reached its bottom within the current market conditions.

Chainlink (LINK) Price Prediction

In recent days, the value of the LINK token has witnessed a consistent downward trend. The month began with the token priced at $7.0509, but it currently trades at $6.63. Notably, on May 11, the token reached a daily low of $6.2549. Data from CoinGecko reveals that over the past 14 days, LINK has suffered a decline of 3.7%.

LINK 1D graph coinmarketcap 3
Source: CoinMarketcap

The current sentiment surrounding Chainlink price predictions appears bearish. The Fear & Greed Index is reading 17.28, reflecting extreme fear among investors. Over the past 30 days, the token has experienced a decline of 18.62%. While a slight recovery may occur in the coming month, by the end of May, the link’s value is expected to increase by 112.79% and reach approximately $14.10. 

image 56
Source: DigitalCoinPrice

Moreover, currently, Chainlink is below the 200-day simple moving average and the 50-day simple moving average, indicating a sell signal. The 200-day SMA is expected to decline, reaching $6.92 by December. The RSI indicates a neutral position for the LINK market.

Related Reading | Chainlink’s Resilience: 7 Integrations Across 4 Chains Despite 7% Weekly Price Dip

Filed Under: News, Altcoin News Tagged With: Chainlink (LINK), Price Analysis, santiment

Chainlink’s Resilience: 7 Integrations Across 4 Chains Despite 7% Weekly Price Dip

May 15, 2023 by Mishal Ali

Despite Chainlink’s native token has taken a dip of 7% in the weekly chart, the network has shown robust growth in the past seven days. According to a tweet, the week saw a total of 7 integrations of 3 Chainlink services across 4 different chains, which include Binance Smart Chain, Ethereum, Moonbeam Network, and Polygon.

⬡ Chainlink Adoption Update ⬡

This week, there were 7 integrations of 3 #Chainlink services across 4 different chains: @BNBCHAIN, @ethereum, @MoonbeamNetwork, and @0xPolygon.

Chainlink helps unlock the full potential of Web3 applications. pic.twitter.com/2vXU8HpILb

— Chainlink (@chainlink) May 14, 2023

Some of the newly integrated services include Bybarterio, Creditcoin, Prime Protocol, RageOnWheels, Spark Protocol, and Yearn Together. These integrations are expected to expand its network further and increase its adoption.

Chainlink is a decentralized Oracle network that provides reliable and secure connections between smart contracts and off-chain data sources. Its unique architecture has made it a popular choice among developers in the blockchain industry.

Meanwhile, the network’s Economics 2.0 has achieved several milestones recently. GMX_IO community recently approved a proposal to integrate Its new low-latency oracles with a 96.28% approval rate. Its service providers will be paid 1.2% of the total protocol fees generated by GMX V2 and later versions.

To thrive well into the future, Web3 needs economically sustainable infrastructure.#Chainlink is leading the charge in creating sustainable oracle services by aligning incentives with the largest Web3 protocols.

This 🧵 highlights recent milestones in Chainlink Economics 2.0.

— Chainlink (@chainlink) May 10, 2023

The Celo community also approved a proposal for CeloOrg to join Chainlink SCALE with a 99.9% approval rate. The network’s Data Feeds on the Celo network will be covered over a three-year term with the allocation of ~6M CELO.

BuildOnBase, an Ethereum L2 network by Coinbase, has integrated Chainlink Data Feeds on testnet and will join the Chainlink SCALE program. The base will cover certain operating costs of services on its network, helping fuel ecosystem growth.

A total of 31 projects have joined Chainlink BUILD, with 16 joining this year alone. This program supports the growth of early-stage and established Web3 projects by providing enhanced access to services and technical support.

These recent developments highlight the progress made by the network’s Economics 2.0 and showcase how the network is moving toward long-term economic sustainability. With sustainable Web3 services, the blockchain ecosystem as a whole becomes more sustainable.

 Chainlink (LINK) Price Analysis

As per the latest data from CoinMarketcap, the cryptocurrency is trading at $6.62, up by about 2% in the last 24 hours. However, the weekly chart recorded a decline of about 6.83%, indicating some market volatility. 

LINK 1D graph coinmarketcap 2
CoinMarketcap

In addition, LINK’s trading volume has witnessed an increase of 5.40%, reaching $106,914,987, whereas the market capitalization has decreased by 2.07%.

LINK’s long-term trend is bearish, predicting a $0.14678 decrease in price by 22nd May 2023. In the short term, LINK is neutral, with a slight chance of an increase followed by a possible decrease in the next few hours. 

Related Reading | ORC-20 Token Sparks Bitcoin Blockchain Frenzy: 72,200 Transactions In A Single Day

Filed Under: News, Altcoin News Tagged With: Chainlink (LINK), Cryptocurrency, Price Analysis

LINK Takes A Brief Dip By 5%, But Chainlink Network Shows Resilient Growth

May 9, 2023 by Saeed Ul Hassan

The popular cryptocurrency, Chainlink (LINK), has encountered a downturn of 5% over the past 24 hours and 4.02% over the past seven days. Despite the decline, the trading volume has surged by 150% over the past 24 hours, indicating a potential shift in investor interest.

LINK 1D graph coinmarketcap 1
Source: CoinMarketcap

However, Chainlink is not the only digital currency experiencing a boost in trading volume. Unfortunately, the overall market sentiment appears to be bearish, with LINK’s 24-hour low/high hitting $6.4714 from $6.9744.

Data from cfgi.io indicates that the token’s fear-greed index currently stands at 25% Fear. This index is calculated using a variety of indicators, including the token’s price score, volatility, volume, impulse, technical factors, social engagement, dominance, search volume, and order book activity.

image 17

According to the analysis, the token is experiencing negative trends in many indicators, including price score, volatility, volume, impulse, technical factors, search volume, and order book activity. 

In addition, social engagement and whale activity are both very negative, indicating a lack of confidence in the token among traders and investors. Despite these negative indicators, the token’s dominance score remains neutral, suggesting that it still holds a significant position in the market. 

However, it will be important to keep an eye on these indicators in the coming days and weeks to see if there are any significant changes in sentiment towards the token.

Chainlink’s Impressive Growth Despite Price Drop: Adoption Update

As per the Adoption Update tweet, Chainlink, a decentralized Oracle network, has shown impressive growth despite a recent price drop. 

⬡ Chainlink Adoption Update ⬡

This week, there were 8 integrations of 4 #Chainlink services across 5 different chains: @arbitrum, @avax Fuji testnet, @BNBChain, @Ethereum, and @0xPolygon.

Chainlink helps power Web3 innovation. pic.twitter.com/zzSkSQQgpw

— Chainlink (@chainlink) May 7, 2023

This week, the network has witnessed eight new integrations of its four Chainlink services across five different chains, including Arbitrum, Avax Fuji testnet, BNBChain, Ethereum, and 0xPolygon. 

Such integrations have helped Chainlink power Web3 innovation, and the recent partnerships are a testament to the network’s reliability and usefulness.

Among the new integrations, several prominent names include Asymetrix_eth, Avax, Cornersofspace, DeDeLend, FaktsTrend, Pegged_Finance, and Runiverse_off. 

It further demonstrates Chainlink’s wide reach and popularity within the decentralized ecosystem as more and more projects look to incorporate its services.

Despite the price drop, the network’s continued growth and adoption by various projects highlight the network’s potential to become a key player in developing decentralized applications. 

With new integrations in the pipeline, it will be interesting to see how Chainlink evolves and contributes to the ever-expanding world of Web3.

Related Reading |  OKB Soars 76% In 24 Hours Trading Volume As OKX Sets Sights On Turkiye Expansion

Filed Under: News, Altcoin News Tagged With: Chainlink (LINK), Cryptocurrency, Price Analysis

Chainlink LINK Unleashes An Almost 9% Surge In 24 Hours: What’s The Driving Force?

April 18, 2023 by Mishal Ali

The crypto market has witnessed a surge in the price of Chainlink (LINK), which is currently ranked at 19th by market capitalization. In the daily chart, the crypto has seen an impressive rise of about 9%, trading at $8.68. It marks a key resistance level for the first time since November 2022.

LINK 1D graph coinmarketcap
Source: CoinMarketcap

Chainlink has been experiencing significant growth since last week, with a 16.42% increase from the $7 support. The bullish trend is supported by rising volume, indicating sustained buying in the market. The 24-hour trading volume has also gone up by 12.62% to $487,857,028, and the market cap has risen by 6.40%.

Chainlink’s growth is driven by market demand and is expected to continue, with investors closely watching and predicting new highs. The surge in price is positive for the crypto market, and its future performance is worth watching.

Gravity Finance Launches Silos, A Chainlink-Powered DeFi Automation Product

The price trigger due to Gravity Finance has unveiled Silos, a first-of-its-kind decentralized finance (DeFi) automation product powered by Chainlink Automation that can seamlessly manage advanced DeFi strategies and tasks on behalf of its owner. 

.@Gravity_Finance has integrated #Chainlink Automation on @0xPolygon to help users automate DeFi tasks and seamlessly manage advanced strategies.

Explore how Automation enables end-to-end decentralization for #Web3 projects👇https://t.co/F8cyBREGrx

— Chainlink (@chainlink) April 17, 2023

This innovative solution enables users to deploy personalized and fully automated DeFi tasks in seconds, giving them greater control and flexibility over their investments. The product is live on the Polygon mainnet and is accessible to users without requiring any coding experience.

Silos allows users to deploy individually owned Smart Contracts (ERC-721) rather than pooling their funds in community vaults. It allows for further customization and personalized strategies, including the ability to deploy multiple Silos and link them together to create complex flows.

Gravity Finance chose Chainlink Automation because it is the most reliable and decentralized Web3 automation service available. 

Chainlink Automation monitors each block on the Polygon network and triggers predefined strategies to execute when required, providing users with an Active Risk Management (ARM) solution that automatically rebalances a loan’s position to avoid liquidation events.

However, Chainlink Automation’s highly reliable and performant infrastructure is designed to save costs and enable faster scaling while also unlocking new use cases for smart contract automation.

Related Reading | Sprucing Up Finance: AVAX Soars 17% In Weekly Chart As Institutions Join Evergreen Subnet 

Filed Under: News, Altcoin News Tagged With: Chainlink (LINK), Crypto, DeFi

Chainlink Whale Transactions Worth $79.7M Detected: A Sign Of Major Development Ahead?

March 5, 2023 by Ammar Raza

Santiment revealed via Twitter that something is indeed brewing with Chainlink. According to Santimentfeed, the blockchain analytics platform has detected three massive whale transactions involving LINK, all of which took place within a short span of just 11 minutes during the final hours of Friday.

image 18

Sources close to the development indicate that a whopping 11.6 million LINK tokens, valued at an estimated $79.7 million, were moved in total to whale wallets during this time period. This sudden and substantial movement of funds has raised eyebrows within the cryptocurrency community, leading many to speculate about the possible implications for the future of the network.

image 19

With its decentralized oracle network and ability to connect smart contracts to real-world data, Chainlink has been a popular choice among cryptocurrency investors and developers alike. However, this recent surge in whale transactions has left many wondering what could be the cause behind this sudden movement of funds.

Experts in the field suggest that this could potentially signal a major development or announcement in the works for the network. Such large transactions are often associated with big players in the industry making strategic moves. As the cryptocurrency market evolves, only time will tell what lies ahead for the network and its investors.

Chainlink & Base Team Up to Boost dApp Development

In the latest developments of the network, Chainlink Price Feeds are now available on Base testnet, a new Ethereum L2 incubated by Coinbase. The integration allows developers building on Base to access Chainlink Data Feeds and other web3 services. 

The Base is also participating in the network’s SCALE program, which covers the operating costs of Chainlink services and reduces gas costs incurred by Chainlink nodes. The initiative aims to accelerate the growth of blockchain and Layer-2 ecosystems sustainably. 

Niki Ariyasinghe, the Global Head of Blockchain Partnerships at Chainlink Labs, has expressed enthusiasm for supporting Base and the SCALE program with the aim of enhancing the ecosystem’s growth and long-term adoption of the Base Layer-2 network. 

The resources allocated will aid Base in becoming a secure and highly functional layer-2 solution within the Ethereum ecosystem, enabling it to facilitate secure and high-performance applications.

Additionally, Jesse Pollak, Base lead, also expressed excitement about the collaboration, saying:

We’re super excited to launch Base with collaborators such as Chainlink and to join the Chainlink SCALE program to empower developers with the critical data and services they need to build their applications.

Related Reading | Shiba Inu Parties In Style At SXSW Premiere of SHIB metaverse

Filed Under: News, Altcoin News Tagged With: Blockchain, Chainlink (LINK), Coinbase, Cryptocurrency, Web3

Chainlink: Link On Top 10 Most Popular Tokens Among BSC Whales

December 6, 2022 by Aishwarya shashikumar

Whales appear to be using Chainlink extensively (LINK). Shark and whale addresses owning between one thousand and one million LINK tokens have “entered an unparalleled wave of accumulation,” according to statistics provided by Santiment. The crypto analysis company claimed that in just two months, the shark and whale addresses collected 26.8 million LINK tokens valued at $194.3 million.

🔗🐳 #Chainlink's shark and whale address, holding between 1K to 1M $LINK, have gone on an unprecedented surge of accumulation. These wallets have added a collective 26.8M $LINK ($194.3M) in just 2 months, a 12.8% increase of coins to their bags. 💰 https://t.co/5GSPIVts6q pic.twitter.com/Mc9fUTQ0vz

— Santiment (@santimentfeed) December 4, 2022

An undisclosed organization amassed Chainlink (LINK) worth $107.6 million over the course of 14 days, claims LookOnChain. For 14.3 million tokens, the whales paid an average price of $7.2 per coin.

In the past two weeks, the number of whales has increased dramatically. Consequently, throughout the same time period, the price of LINK increased by 23.3%.

1/ Whales are accumulating $LINK recently.

– A gaint whale (institution) accumulated 14.3M $LINK ($107.6M) from #Binance in the past 2 weeks.

– 0xd51b bought 284,496 $LINK ($2.15M) from #Uniswap on Nov. 30.

– 0xe6a5 bought 66,723 $LINK ($504,427) from #1inch on Nov. 30.
👇👇

— Lookonchain (@lookonchain) December 5, 2022

Chainlink (LINK) is currently one of the top 10 tokens that BSC whales have purchased, as a result of the significant accumulation.

JUST IN: $LINK @chainlink now on top 10 purchased tokens among 100 biggest #BSC whales in the last 24hrs 🐳

We've also got $DOGE, $bwJUP, $TWT, $RACA & $ADA on the list 👀

Whale leaderboard: https://t.co/0SYnjw0xQs#LINK #whalestats #babywhale #BBW pic.twitter.com/YF3rqLutgw

— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) December 6, 2022

Intriguing Rise In Chainlink

The impending debut of LINK staking, which begins tomorrow, may be to blame for the rise in interest in LINK. Therefore, whales might be preparing for a rise in pricing.

1/ #Chainlink Staking v0.1 is launching tomorrow (Dec 6th, 12PM ET) 👀

What does this mean and what does Staking v0.1 look like?

Let’s break it down frens 🧵 pic.twitter.com/qwgjdn2Lj0

— ChainLinkGod.eth (@ChainLinkGod) December 6, 2022

Some “smart money” wallets, according to Nansen, are removing their LINK tokens from exchanges. This might be a sign that the wallets are putting their tokens up for stake. If wallets have a track record of success, Nansen refers to them as “smart money.”

Chainlink Staking v0.1 will have early access starting on December 6 at 12:00 ET and general access starting on December 8. According to a blog post, Chainlink Staking v0.1 will initially start at 25 million LINK and eventually reach 75 million LINK.

LINK was trading at $7.25 at the time of publication, down 3.6% from the previous day. The token has also lost 86.3% of its value after reaching an all-time high on May 10, 2021, when it reached $52.70. Many believe that LINK will peak at $8.13 this year and $28.33 in 2025.

Filed Under: News, Altcoin News, World Tagged With: BSC Whales, Chainlink (LINK), Cryptocurrency, LINK

Chainlink (LINK) To Launch Staking On Ethereum On Dec 6th

December 2, 2022 by Mishal Ali

Chainlink (LINK), a well-known blockchain oracle service, declared on November 30th that it is preparing to launch staking on Ethereum on December 6th. It is a component of the long-term, economically sound plan for the blockchain network that the LINK ecosystem has developed.

In order to support specific performance guarantees for oracle services, stakers commit LINK tokens in smart contracts using a crypto-economic security mechanism called “Chainlink Staking.”

Additionally, in a Twitter thread, Chainlink gives an update on how Staking will be developed in the future, beyond this first release, and how that will impact key features like the lock-up time.

1/ With Chainlink Staking v0.1 launching on Ethereum mainnet on December 6th, we'd like to provide an update on our iterative approach to building future versions of Staking beyond this initial release and how that will affect important attributes like the lock-up period.

— Chainlink (@chainlink) December 1, 2022

They explained that the first lock-up duration of 12 to 24 months was predicated on a conservative release cycle that contained more sophisticated features with each release. Whereas “Smart contracts” tend to take longer cycles because it is important to audit them separately, and so duplicate efforts across each new iteration are avoided.

After talking to community members and node operators, they found that they prefer more rapid iterations of new releases with condensed scopes.

According to the tweet’s comment section:

As a result, the next version of Staking (v0.2) is now planned to launch in 9-12 months, at which point v0.1 stakers can unlock or migrate their staked LINK and rewards.

image 5
Source: Chainlink

Chainlink Staking (v0.1) On Ethereum

Only “addresses that qualify for Early Access” will start using the beta version of Chainlink Staking (v0.1) on Ethereum. These can participate in a capped staking pool and stake up to 7,000 LINK, or about $53,270. Activity on-chain and off-chain, which can be verified by the user’s wallets, determines eligibility.

According to the blog post:

The capped v0.1 staking pool will then open to General Access two days later on December 8th. At that point, anyone will have the chance to stake up to an initial limit of 7,000 LINK per address, subject to the initially limited 25M LINK pool cap and other applicable participation requirements.

image 4
Source: Chainlink

Furthermore, the staking pool v0.1 offers support for the ETH/USD data feeds on the Ethereum mainnet. Users can help secure the Data Feed by providing alerts if it fails to meet specific criteria such as adequate uptime.

In addition, without the node operators taking over the community stake, Community Stakers in v0.1 will immediately have their share transferred to Node Operator Stakers. The term “Auto-Delegation” is used to describe this method.

Nevertheless, following the first implementation of staking version 0.1, the economic and security architecture of the network would be changed. With this, staking will become a fundamental mechanism for LINK tokens to provide assistance with its security.

Related Reading | SBF Opens up About the Collapse of FTX

Filed Under: News, Blockchain Tagged With: Blockchain, Chainlink (LINK), Chainlink Staking, Ethereum (ETH)

Weekly Market Update: Huobi Token & ApeCoin Shine Amidst FTX’s Collapse

November 28, 2022 by Saeed Ul Hassan

Huobi Token (HT) has been doing well over the last few days, and other cryptos seem to be caught up in the aftermath of FTX’s collapse. It sits at number one as the weekly winner thus far- with significant growth of almost 48% from last week. Similarly, ApeCoin (APE) ranks second among weekly winners, with a considerable growth rate. 

According to the data from CoinMarketcap, the weekly price change is from the low of $4.69 on November 21st to the high of $7.32 on November 27th. Huobi token is currently trading at $6.34, with a loss of about 11.01% in the last 24 hours. However, its 24 hours trading volume displays a notable gain of approximately 82.80%.

HTUSDT 2022 11 28 02 47 52
Source: Tradingview

The launch of the 1,000,000 $USDT and limited-edition NFTs shared for the Huobi community by PrimeBox x CryptoSoccer on November 23rd, which is available through November 30th, is one of the factors fueling the Huobi token’s price increase.

PrimeBox x CryptoSoccer Launched!

1,000,000 $USDT And Collect Limited-Edition NFTs Shared For The #Huobi Community!

Join ⬇️

— Huobi (@HuobiGlobal) November 23, 2022

Following that is the ERC-20 governance and utility token ApeCoin (APE), which is currently trading at $3.81 and has had a weekly price change of $2.86 to $3.94. The token has seen a gain of around 26.44% over the last seven days, as well as a gain of 1.25% during the past 24 hours.

APEUSDT 2022 11 28 02 51 25
Source: Tradingview

One of the reasons for the increase is the announcement that the community-led DAO comprised of ApeCoin holders has started its own marketplace to purchase and sell NFTs from the Yuga Labs ecosystem.

The NFT infrastructure company Snag Solutions created the aptly called ApeCoin Marketplace, which allows transactions of the BAYC, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Otherdeed NFT collections. It was released on November 24th.

LINK & DOGE Ranks In Weekly Gainers List Following Huobi

As per Coinmarketcap’s data, the token’s price is currently at $0.09502, with a gain of over 25.39% in the last seven days. Additionally, its 24 hours trading volume shows an incredible growth of about 109.86%.

As the token advanced for a second straight session, Dogecoin (DOGE) soared to a three-week high to kick off the week. On Saturday, DOGE surged to an intraday high of $0.09474 after hitting a low of $0.08695 on Friday. This increase in value had brought the token’s price to its highest level since November 8th, when it reached a high of $0.1125.

DOGEUSDT 2022 11 28 02 49 01
Source: Tradingview

After that comes, Chainlink (LINK), which has increased by approximately 19% over the past week, is presently down by around 5% over the last 24 hours and is trading at $6.81. The weekly price increase is from $5.58 to $7.25 as well.

Data from Lunar Crush suggests that this growth might be due to LINK, which has seen an increase in social mentions. In comparison to the seven-day average, the network saw a 586% increase in mentions per hour to over 3,000.

📊 INSIGHT: $LINK social mentions measured hourly hit 3.01K, 586% above the 7-day average.

— LunarCrush (@LunarCrush) November 26, 2022

It’s possible that the debate around LINK was influenced by the upcoming staking function that Chainlink is about to launch. Price increases for LINK may be a result of the continual agreements and integrations Chainlink has been forming.

Related Reading | Solana NFT Ecosystem Shines But DeFi Remains Muted: Report

Filed Under: Market Analysis Tagged With: ApeCoin, Chainlink (LINK), Dogecoin, Huobi tokens, Price Analysis

Chainlink High On Surge, Shoots Upto $9.20

November 8, 2022 by Aishwarya shashikumar

Chainlink [LINK], which was seen approaching the $10 mark as the crypto market was observed falling into the Red Sea amidst the US midterm elections. While some assets were able to record positive growth, a few others were rapidly losing value. LINK, however, was one of the former.

After a brief respite in late October, the overall cryptocurrency markets have plunged once more. In October, Ethereum (ETH) surpassed $1600, and Bitcoin (BTC) reached a new high of $21,000. The rally, nevertheless, did not go on for very long. At the time of publication, BTC had been down 5.4% in the previous day, trading at $19,707.55, while ETH had dropped 7.2% in the same time period, closing at $1,473.05. In addition, the value of all cryptocurrencies decreased by 5.5% in just 24 hours, to $1.02 trillion.

The alternative currency managed to soar to a high of $9.20 earlier today. This was significant because this level has already been attained in August 2022. As a result, the community searched widely for this three-month peak.

Santiment, a well-known on-chain analytics platform, pointed out that Chainlink’s most recent action was motivated by increasing network activity.

FhAU9MnVQAADVQg
Source

Santiment tweeted,

“#Chainlink spiked all the way above $9.20 for the first time since August 13th, a ~3-month high despite very volatile markets. This rise has been supported by the largest amount of active $LINK addresses in 5 weeks, and traders are longing aggressively.”

Chainlink To Hit $10 Mark?

Chainlink experienced a small correction after rising to a high of $9.20, which sent the asset back down to $8.39 as of the time of publication. LINK’s daily price movement was positive 2.56 percent despite this. This is significant because the rest of the market was suffering significant losses.

After the correction that the asset experienced, many people lost hope. Michal van de Poppe, a well-known cryptocurrency analyst, pointed out how the asset might be headed toward $10.

Mentioned that we needed an HL on the markets and we got it for $LINK.

Was looking at the $8 region and a bounce occurred. Looks fine for continuation towards $10. pic.twitter.com/C3TKxWiKhe

— Michaël van de Poppe (@CryptoMichNL) November 7, 2022

Notably, the asset is currently 84.11 percent behind its all-time high, which was $52.88. While the asset was hoping to reach $10 in the near future, many in the community believed that the continuation of its current thought may drive the asset above $12.

Filed Under: News, Altcoin News, World Tagged With: Chainlink (LINK), Cryptocurrency, santiment

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