LINK Bulls Target $10 As Number Of Daily LINK Transfers Soar By 82%

Sahana Kiran Altcoin News published August 2, 2020 | modified August 2, 2020

Chainlink LINK
Image Courtesy of Wikipedia

LINK Bulls Target $10 As Number Of Daily LINK Transfers Soar By 82%

Chainlink [LINK] has once again taken shelter under the crypto limelight with its price movement. While LINK seems to be heading towards its recent all-time high, other prominent coins like Bitcoin, Bitcoin Cash, Cardano, and many others were recording a serious slump in their respective prices. 

LINK Heading The List Of Top Gainers [Once Again]

The previous month proved to be eventful for the crypto-verse. Almost every coin witnessed a positive movement in its price. Bitcoin also observed an upward trajectory and hit $11K. However, a few altcoins were undoubtedly the top gainers of July. It seems like the alts are raging once more as certain altcoins were seen soaring.

Moving over XRP and Ether [ETH], Chainlink’s LINK stole the crypto spotlight. The altcoin had already made some noise last month as its price hit an all-time high of $8.74. Along with this, the coin climbed up the market cap ladder and made its way into the top ten cryptocurrencies.  Over the last 24-hours, LINK was one of the best-performing coins. The altcoin recorded a 9.4 percent increase in its price over the last 24-hours. At the time of writing, LINK, the ninth-largest cryptocurrency was trading at $8.44.

Source – CoinGecko | Chainlink 24-Hour Chart

As seen in Chainlink’s 24-hour chart, the altcoin tried to breach its recent all-time high of $8.74 multiple times. LINK hit a high of $8.62, $8.67, as well as $8.68, however, it failed to go beyond that.

Apart from its price, the number of transfers of the coin had also recorded a notable increase. The value of the number of transfers was as low as 548.167 and surged by a whopping 82.1 percent, further pushing its value to 998.167.

Source – Twitter | Glassnode Alerts

This further led to several members of the crypto community speculating that the altcoin could even go up to $10.

XRP, ETH Also Join The List

Apart from LINK, the price of other prominent altcoins like ETH and XRP were recording a surge. ETH was trading at $370 during press time with a price change of 3.6 percent over the last 24-hours. Several speculated that the coin could soon hit $400 if it prolonged its uphill journey. XRP was also performing exceptionally as the coin observed a 8.6 percent increase in its price and was trading at $0.289765. However, other coins, along with Bitcoin, were seen plummeting. The price of Bitcoin Cash [BCH] and Bitcoin SV [BSV] was dropping by 7.0 percent and 7.4 percent over the last 24-hours. Bitcoin, on the other hand, nosedived to $11,139.94 as it was plummeting by 4.2 percent.

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Sahana Kiran 133 Articles
Sahana Kiran is a graduate in Political Science, Economics and Journalism. She is a full-time crypto writer at CoinGape and takes a keen interest in cryptocurrencies, especially Ethereum and Bitcoin. Even though she's not a HODLER yet, she has eyes on Bitcoin.
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