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…


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.

To get the daily price analysis, Follow us on TradingView

Sahana Kiran

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.

Recent Posts

DeFi Mania Continues to Catalyze DEX’s Volume

Decentralized exchanges [DEXs] has recorded phenomenal growth in 2020. And it is not the user…

17 hours ago

CrossFi Solutions Can Overcome the DeFi Hype in Building a Sustainable Future for Decentralized Finance

Decentralized Finance (DeFi) is no-brainer the crypto ‘buzzword’ of 2020, this space has experienced tremendous…

11 hours ago

Security Risks in DeFi (Decentralized Finance)

Decentralized finance has been the talk of the town for the last few months, seeing…

11 hours ago

Bitcoin Trading Volume on Bakkt Peaks Again as September Expiration Approaches

Bakkt recently had witnessed a peak in the trading volume of physically-settled bitcoin futures on…

17 hours ago

Bitcoin To 10x From These Levels Says Analyst, Predicts Other Giants to Follow MicroStrategy

Business Intelligence Firm MicroStrategy created a massive buzz by announcing BTC purchase worth $425 million.…

17 hours ago

Rubic, A Decentralized P2P Exchange Solving The Scalability Problems On DEFI

Rubic is a decentralized P2P platform that enables users to create, manage, trade, and exchange…

17 hours ago