The price of the altcoin Chainlink (LINK) has reached a new all-time high after growing to $17. Over the last 24 hours, the crypto has posted a spectacular growth of 33%. In mid-March, its price fell to a low of $1.5. LINK has registered a rebound of more than 1,000% over the past 5 months.
LINK's market cap has exceeded $6B, making it the 5th largest crypto by capitalization, according to CoinMarketCap. Analyst Josh Rager has said:
"For about the hundredth time, when $LINK dips, it usually outperforms every other asset on the bounce."
In order for Rager's expectations to be met, LINK must double its price and overtake Tether and then XRP, which is firmly in third place.
Chainlink's growth is reportedly being driven by news of the project's collaboration with several companies and services interested in the possibilities of its blockchain oracles. For instance, the project developers have announced they have started collaborating with Staked, a company that offers fixed income solutions for crypto investors through staking and landing pages. Staked has joined Chainlink as a node operator to transfer data to more than 25 DeFi apps in the Ethereum blockchain. Staked's investors include Coinbase, Pantera Capital and Winklevoss Capital.
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