Chainlink (LINK) and Fantom (FTM) Altcoins Register Strong Rally, Here’s What’s cooking

By Bhushan Akolkar
Published January 4, 2022 Updated January 4, 2022
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Chainlink (LINK) and Fantom (FTM) Altcoins Register Strong Rally, Here’s What’s cooking

By Bhushan Akolkar
Published January 4, 2022 Updated January 4, 2022

While the broader cryptocurrency market has been moving sideways, some altcoins have delivered a really strong show. The start performers on Monday, January 3, have been Chainlink (LINK) and Fantom (FTM).

Oracle service provider Chainlink (LINK) has been showing strength recently gaining 7% over the last 24-hours. As of press time, LINK is trading at $23 with a market cap of $10.7 billion. Chainlink has been hammered during the recent crypto market correction with the LINK price crashing under $20 levels.

However, it is once again showing strength! More importantly, LINK is heading for a major breakout against the world’s largest cryptocurrency Bitcoin (BTC). On the descending triangle pattern, LINK seems to be heading for a breakout on the upside. If this happens, we can see the LINK price going closer to $30 very soon.

Many believe that Chainlink (LINK) could be one of the top-performing altcoins for 2022. Last weekend, Chainlink co-founder Sergey Nazarov recently presented the protocols plans for cross-chain interoperability using CCIP.

Besides, Chainlink is also planning to introduce staking on its platform this year in 2022. So there’s a ton of exciting developments coming to the Chainlink protocol in 2022 which makes it a major altcoin contender for a strong rally.

Don’t Miss Out the Fantom (FTM) Rally.

After crashing over 50% from its all-time high of $3.0, Ethereum-Layer-1-competitor Fantom (FTM) has registered a solid bounceback over the last week. On Monday, the FTM price gained another 20% and is currently trading at $2.91 with a market cap of $7.37 billion. On-chain data provider Santiment reported:

The popular #Fantom spiked +19% Monday despite #crypto‘s mild slide. $FTM‘s price has now surged +115% in just under two weeks, and #Fantom‘s active addresses have spiked to levels not seen since late November.

Courtesy: Santiment

The Fantom Price rally comes along with the surge in the daily active addresses. We expect the FTM price rally to continue further in 2022.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan Akolkar
895 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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