Chainlink (LINK) Outperforms Altcoins
LINK staged another rally ahead of other altcoins, growing by 30% in a week.
Chainlink (LINK) is showing significant strength again, while most altcoins drift sideways and mentions of an altcoin season are rarer. LINK as grown to $2.22, with a non-stop appreciation in the past day.
In the past seven days, LINK is up more than 30%, boosted by recent news on working alongside SWIFT for a new payment system model.
Chainlink has aimed at working with the SWIFT system for years, but only now added an official mention on its site. Still, it is uncertain when the project would be completed, or whether it would move to real-world adoption.
LINK is seen as one of the most innovative projects, and was listed without a fee on Binance. Since then, the leading exchange has been instrumental in LINK rallies, but was also led to a one-time order anomaly from an inexperienced trader.
With Bitcoin (BTC) and leading altcoins remaining relatively stagnant, LINK is seen as a potential source of growth. There are predictions for significant growth until the end of 2019:
LINK has remained within the top 15 coins for months. Since September 15, LINK has also set to almost double its BTC price, from the 15,000 Satoshi tier, up to 27,000 Satoshi. LINK is within a shouting distance from the June peak above 30,000 Satoshi.
More than 34% of all LINK activity is concentrated on Binance, with the rest on Coinex. A small share of Coinbase trading boosts the positions of the coin. Above 33% of all volumes are against Tether (USDT), and the Korean won has a share of 22%, allowing LINK to be one of the coins most independent from BTC prices. This is one of the reasons why LINK manages to rally ahead of the pack.
Still, LINK remains risky, as it has gone through sharp corrections of above 50% within months. But on certain periods, LINK is seen as potentially outperforming other assets, and as a risky bet on gains for the last quarter of 2019.
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.