The value of this Oracle Service provider, Chainlink (LINK) Price Rising, has recently risen to a month-high of $18.82, thanks to a 7% jump in the last 24 hours. The market capitalization of LINK is $10.6 billion, and the price is $18.18 after a slight drop. In addition, the altcoin’s trading volume is up 143%, suggesting more incredible spikes, which is marginally optimistic. The current boom in the price of Chainlink (LINK) can be explained in this blog post.
Why Is the Chainlink (LINK) Price Rising?
The market capitalization of Chainlink places it among the top 15 cryptocurrencies, with the highest market capitalization on CoinmarketCap. As an additional point of interest, the price of LINK reached a peak of $21.75 previously, after the bullish market conditions in March, indicating its prospective price. However, what other factors are contributing to today’s price increase?
The first is the collaboration that Chainlink has formed with Swift Payments, which will be presented at the Consensys conference that is taking place this week in Austin, Texas. Second, the post-approval consequences of the Ethereum exchange-traded fund. Over 15,000 individuals from over one hundred countries are expected to attend this Consensys conference, which will be co-presented by Chainlink and Swift, a platform for international payments.
Because of this collaboration, the holder of the LINK has responded with a bullish reaction to the news of the partnership. In addition, the network finished implementing twelve upgrades for the six Chainlink services found on the nine blockchains. These updates included Ethereum, the arbitrium, and many other blockchains. The demand for alternative cryptocurrencies, such as Chainlink, has increased significantly due to the positive spike in the Ethereum ETF. Additionally, this has allowed additional exchange-traded funds to enter the market. According to Sergey Nazarov, who is also a co-founder of the Chainlink project,
Chainlink Price To Surge 300%
Because the present spike is small compared to its most significant gains, Chainlink still has a long way to go. Being a part of the cryptocurrency industry for six years, the price of LINK has experienced its fair share of ups and downs. The 2021 bull run caused the token to reach its all-time high of $52.88, 65% higher than its current value. On the other hand, analysts predicted that the price of Chainlink would increase by almost 300 per cent in the days ahead, which is about to change.
Several analysts, including Michael Van de Poppe, have predicted. The price of Link will increase by between 150 and 300 per cent. According to his research, Chainlink has reportedly broken through. The critical support level and the bullish run will likely hit this alternative cryptocurrency. Because the cryptocurrency is only at one-third of its best-performing values, it is necessary to determine how the Chainlink price will go based on the 300% spike assumption.
