Chainlink (LINK), one of the largest cryptocurrencies in the world, was able to surge over 35% and reach the top 10. In this way, Crypto.com Coin (CRO) moved to the 11th position. LINK has been in a bull trend in the last weeks and investors continue to be very excited about the future of the virtual currency.
LINK Massively Surges Reaching the Top 10
LINK continues to attract investors and new users as it surged over 35% in the last few days allowing the cryptocurrency to reach the top 10. LINK has moved from $2 in March this year to over $7.99. The main question is how long this bull market can last and whether some users are already starting to sell their coins after such a massive bull run.
One of the reasons that are pushing the price of LINK higher is related to price discovery. It is not possible to know which is the top for LINK considering the market has never seen such prices for this virtual currency. When price discovery takes place in an asset, it is certainly difficult to start the massive bull trend.
At the same time, the trading volume of LINK has also skyrocketed. The virtual currency reached the fourth position in terms of trading volume with $1.55 billion of U.S. dollars translated in the last 24 hours. This is the best result after Tether (USDT), Bitcoin (BTC) and Ethereum (ETH). In BTC terms, LINK has reached a price of 0.000886 BTC.
It is worth mentioning that LINK has been expanding over the last years and months in the cryptocurrency market. The blockchain network has been working with a large number of firms and companies that would allow Chainlink to expand it solutions to the market.
Sergey Nazarov, the co.founder of Chainlink, stated about the partnership with the crypto lender company NEXO:
“We’re excited to bring Chainlink’s secure and reliable oracle solutions to Nexo’s popular lending platform to enable users to independently verify on-chain the interest and collateralization rates they should receive.”
Furthermore, it is worth mentioning that Google has also released a blog post in which they informed they were working with Chainlink and Ethereum with their Google Cloud solution.
As the altcoin market continues to grow, we will see massive bull runs. The one experienced by LINK is certainly one of the largest of the last months.