Chainlink: What’s the big climb?

7. Juli 2020 Aus Von admin

We have all been asking ourselves: What has happened? How is Chainlink (LINK) about to set a new historical high? We tell you what has happened with the strong rise of Chainlink.

Chainlink in review
Chainlink on a roll
Yesterday the crypt market was surprised to see that the 13th crypt currency by market capitalization, Chainlink observed a rise equal to 11% in its price. How?! Why?

The last few months in the crypto market have been a rollercoaster ride of emotions, going from Black Thursday caused by the pandemic and then this month the cryptomonies crashed along with Bitcoin.

In fact, on June 12, Link’s price plunged 10% to its monthly low of approximately $3.90.

At this time, Chainlink’s crypt currency is valued at $4.73 according to the CryptoTrend tool, Crypto Online. But what has happened?

Maximums and minimums

When we look at Link’s historical chart, we can see that the first time this crypt currency peaked was in July 2019, when it was valued at $5.10.

Since then, Chainlink has been on a roller coaster. However, in the last two weeks Crypto Cash has experienced a rise of 33%.

In this regard, Link’s performance has been so impressive that the community has asked: What is happening? Why the sudden interest?

Development as a key player
One of the positions that explain Chainlink’s recent surge is based on the development that altcoin has had in recent weeks.

In fact, some see Link as a „DeFi token“ precisely because of Chainlink technology. However, at the moment, cryptomoney is not listed in the DeFiMarketCap classification.

Also, Chainlink has recently decided to join forces with several leading DeFi platforms, among them we have Kyber Network and, later, the Orchid decentralized VPN service.

In addition, it is relevant to mention the recent announcement that China’s National Blockchain Services (BSN) is using the oracle Chainlink network to process data outside the chain.

To be more specific, it was announced that two partners would help with two of the biggest challenges in China’s ambitious national Blockchain infrastructure project.

Consequently, Chainlink will lend its expertise to the construction of a „service center“ that would support an „Internet of Blockchains“.