- Chainlink joins the best-performing alternative tokens at the moment, its price jumping towards $34.
- The alt’s market capitalization makes a historic move, crossing $15 billion after battling under the mark since mid-May.
- Though LINK remains far from the record ATH, it receives recovery sentiments because of increased institutional and retail interest.
The altcoin market depicts massive advancements as we start a new week. Chainlink (LINK/USD) is among the assets that registered notable gains for now. That was after the alt’s moves led to it hitting a vital milestone. The crypto project that offers blockchain with real-world data had its market capitalization climbing to $15 billion. Keep in mind that LINK has never hit such levels since the May market crash.
The coin achieved the milestone market cap after LINK had a sudden 12% uptick in the past 24 hours. With that, LINK became the 12th largest token by market capitalization. Such developments have LINK overtaking cryptos such as LTC, FIL, LUNA, MATIC, and BCH as far as market value is concerned.
LINK Attracts Cash Flow and Attention
According to stats, LINK had its market value increasing by 119% over the past six weeks. Moreover, the alternative token surged 12% in the past day. Another thing with rapid improvements is the GitHub submission rate, developed by Chainlink’s experts.
LINK has seen roller-coaster movements since the start of this year. In January, the asset had its price at $11. However, the market boom saw it hitting its ATH in mid-May at $52 before plunging towards $13.5 by 20 July. However, the token sees the correct sentiments as it advances once more. For now, LINK stands at around $34.16.
Chainlink had remarkable growth during the initial five months of 2021 due to magnified interests from retails and institutions. Retail traders interact with the alternative token through trading platforms and exchanges. On the other hand, institutional investors gained LINK exposure through the Chainlink Trust by Grayscale.
If the broader market supports LINK’s upsurges, the token will have enough momentum to register higher highs. However, as BTC rises to the levels past $50K, the alt market will also note surges.
Stay tuned for more updates.