ChainLink (LINK) Keeps Booming on Coinbase Pro Listing
LINK has defied the gravity, becoming the top performer among altcoins after the recent Binance listing.
ChainLink (LINK) went through another boom phase, this time following the news of a listing to Coinbase Pro. LINK has accrued reputation as one of the most promising networks. As altcoin prices for most coins were sinking on Thursday, LINK still managed a strong climb to above $2.35.
A Coinbase Pro listing has usually preceded a listing to Coinbase, one of the best-used brokerage services. However, not all assets move automatically to availability on Coinbase. LINK will be limited and unavailable for traders from the state of New York.
LINK moved up from lows under $1 at the beginning of June, when the news of the mainnet launch were met with a sell-off. Afterward, the coin started a recovery, with significant growth spurts boosted by Binance activity. LINK got an additional boost from a Google partnership to supply oracle information for Ethereum-based smart contracts.
LINK supporters see a positive trajectory for LINK, achieving significant gains for a new price discovery period:
The expectations for LINK is that the asset is undervalued and may reach much higher valuations. LINK started 2019 with a low price of $0.29 and around 7,790 Satoshi, achieving a first-half peak at above 18,000 Satoshi and breaking the $2 barrier.
LINK started trading back in October 2018, with a price of just $0.13, becoming one of the most gainful new projects, which went on to defy the bear market.
Chainlink aims to build one of the elements of a decentralized infrastructure for smart contracts, the supply of real-world data, or oracle information. Without a readily available and reliable oracle, smart contracts may be meaningless.
LINK may remain highly volatile, especially following the recent Bitcoin (BTC) rally which pushed the leading coin thousands of dollars up in just a few days. LINK is still somewhat independent of BTC price moves, as more than 31% of its volumes are based on Tether (USDT).
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.