Chainlink (LINK) and Binance Coin (BNB) Hit All-Time Highs Amid Staggering Network Growth
Bitcoin (BTC) and Ethereum (ETH) have been consolidating for a while altcoins like Chainlink (LINK) and Binance Coin (BNB) have surged to all-time highs. On Wednesday, February 10, the Chainlink (LINK) price surged to its new all-time high above $28.4 with its market cap shooting to $11.5 billion. The LINK has been one of the top-performing cryptocurrencies with its price skyrocketing more than 150% year-to-date. The recent price rally comes backed by solid network growth for Chainlink.
As per data by on-chain provider Santiment, the Chainlink network has registered a staggering 176% network growth over the last 90 days. Another chart from Santiment shows that the rapid surge in the LINK token circulation for the 13th straight month has contributed to its bullish run.
Source: Santiment
Binance Coin (BNB) Registers 135% Growth on Weekly Charts
On Wednesday, February 10, Binance Coin (BNB) – the native cryptocurrency of the Binance blockchain shot 50% in a single day hitting its all-time high above $148. This was for the very first since its inception in 3.5 years that BNB price crossed $100 levels. Although the BNB price has retraced partially from its highs, it is still trading at $127 with a market cap of $19.2 billion.
At press time, the BNB price is 135% up on a weekly chart and its year-to-date gains stand close to 250%. Similar to Chainlink (LINK), the Binance Coin has also seen a staggering network over the last 90 days. During this period, the number of active addresses on Binance has literally tripled. The Santiment report states:
“Three weeks ago, the largest age consumed spike in BNB’s three and a half year history occurred. This was an indication that dormant tokens were on the move, and it wasn’t surprising to see prices spike fairly quickly afterward”.
Also, one of the major triggers to BNB’s Wednesday price rally was the Binance Smart Chain surpassing Ethereum in daily transactions. As Ethereum continues to face congestion with a high gas fee, Binance continues to gain ground in the DApps market with low fees.
Today is an important day. #BSC (#BinanceSmartChain) flipped Ethereum on daily transactions.
This validates the logic that low fees attracts more users & projects. We will continue to work with the #BSC community to promote low fees (even as #BNB rises) and #build more.
????????????
— CZ ???? Binance (@cz_binance) February 10, 2021
- John Bollinger Sees ‘W’ Bottom Forming in Ethereum and Solana, Not Bitcoin
- Robert Kiyosaki Calls Bitcoin and Ethereum ‘Real Money,’ Urges Investors to Ditch ‘Fake’ Fiat
- ‘Sell Gold, Buy Bitcoin’: Expert Flags Major Market Bottom Signal
- Ripple Makes ‘Unusual’ $500M Transfer Amid $1 Billion XRP Treasury Plans
- ‘I’m Going Bonkers’: Dave Portnoy Says He’ll Buy XRP Again If It Dips Below This Level
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
- Ethereum (ETH) Price Prediction: Analyst Eyes $7,000 by Q4 as Bitmine Accumulates $281M ETH — Will History Repeat Itself?
- HYPE Price Teeters Amid Weak Technicals and Soaring Liquidations
- XRP Price Prediction As Ripple Announces $1B Treasury Plans – Is a Rebound Imminent?
- Bitcoin Price Prediction Amid Gold’s Parabolic Rally to Second-Largest Reserve Asset
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
