Chainlink's price has reached $8.5 for the first time in its history. According to data provided by CoinMarketCap, the crypto has posted a 24% growth over the past 24 hours, 85% during the last week, and 375% since mid-March. As a result of this outstanding rebound, the crypto now ranks tenth in CoinMarketCap's classification of largest cryptos by market capitalization.
Last week, Santiment reported an increase in Chainlink activity: "LINK is continuing to see sky-high daily active addresses, indicating just how active the network has been. The four highest outputs in network activity over the past year for Chainlink have occurred in the past six days."
According to Coinbase, 67% of Chainlink trading activity on the platform is related to token purchase. In addition, the average storage time is 46 days.
Analyst Josh Rager said:
"LINK is a perfect example of why you should still trade altcoins even as a Bitcoin maximalist. The last five weeks, BTC has been stuck in a $1000 range. In the meantime, LINK has went from $3.65 to $8.50+."
Crypto expert Michaël van de Poppe added:
"Such a beast. Just a matter of time until it reaches the next one at $10."
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