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

By Sahana Kiran
Published August 2, 2020 Updated August 2, 2020
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LINK Bulls Target $10 As Number Of Daily LINK Transfers Soar By 82%

By Sahana Kiran
Published August 2, 2020 Updated August 2, 2020

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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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
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.