The entire cryptocurrency market is still in the red, with Bitcoin falling below $ 8,000. However, LINK is at the peak of another rally, still seems to rise.
LINK challenges market incidents
LINK remains one of the market challenging assets in March, as prices have gone vertically in both USD and BTC. LINK remained well above $ 4, breaking its ATH levels with the highest price of $ 4.68.
LINK also continued to increase for BTC, reaching over 0,00052 BTC, with enthusiastic expectations for a larger rally. This is not the first time that LINK has challenged the market, with protests that were once considered short-term pumps, or even due to unusual trading based on amateur order errors.
But LINK has gone through many rounds of appreciation, with the last rally boosting enthusiasm. LINK is considered to be able to explore a new price range.
The response of $ LINK in this massive market wide dump has made me even more bullish than ever. It really is happening isn't it frens? #link #chainlink
– Iron £ ord $ hillink (@shillink) March 9, 2020
LINK also showed its mettle in fighting the biggest market crash of the year, where BTC wiped out nearly 10% of its price overnight. LINK is outside the top 10 of cryptocurrencies, but has challenged the massive price slippage of the top 10 coins. During a sell-off late Sunday, the top 10 coins removed more than $ 16 billion in market capitalization, equivalent to United Airlines' market capitalization, Timothy Peterson noted.
$ 16 billion in Top 10 #crypto market cap lost in the past 24 hours. That's the size of United Air Lines ($ UAL) #bitcoin pic.twitter.com/btHTuz9jYF
– Timothy Peterson (@nsquaredcrypto) March 8, 2020
Based on the volume reports, most of LINK's trading volume is still done on Binance. Spot trading at Binance has a liquidity of over $ 475,000 / day. But based on the total volume, the Binance derivatives market is the factor that drives LINK prices to rise even faster. Adding futures markets means that LINK can respond much faster to sentiments, especially after becoming one of the few crypto assets that provide a hedge against BTC price risk.
Profits have increased by 10x since 2017
LINK inevitably corrected, as the price retracted back a little to $ 4.26. The properties also show signs of deep sliding. But until now, LINK was also one of the most successful tokens. As a latecomer, LINK has even challenged most of the 2018 bear market and has continued to earn a net profit of 968% over the past few years.
#LINK is up 968% since the BTC peak on Dec 18, 2017 while $ BTC is down over 54%. In addition, no other crypto has had a positive return since then. That is some really serious relative strength. LINK is a paradigm shift. pic.twitter.com/4UrlTdkpmE
– 🔱 Dan C 🔱 (@ compwiz4u) March 3, 2020
Chainlink is also a reliable means of providing oracle data for many Defi projects, promoting automation in industries and deploying smart contracts.
You can see the price LINK here.
Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Annie
Bitcoin Magazine
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