Chainlink Prices Rise Significantly Compared To BTC

JAKARTA - Chainlink (LINK) experienced a significant increase compared to Bitcoin's sideways movement.LINK is one of the most popular coins in today's crypto market. While Bitcoin is barely changing at the same time.

Crypto LINK has seen an increase of about 6% in the past week. With a daily trading volume increase of 787% in recent days, large whale accumulation is one of the main factors driving Chainlink's price increase.

Based on on-chain data from Santiment, it shows that Chainlink has become one of the altcoins that has experienced a price spike thanks to a huge volume of transactions. On July 26, 2023, LINK's trading volume increased more than 100% to US$344 million (Rp5 trillion), compared to US$211 million (Rp3.1 trillion) the previous day.

This Altcoin recorded the highest number of transactions in 2023, with a value of more than 1 million US dollars (Rp15 billion). In addition, crypto addresses, which have 100,000 to 10 million LINK coins, continue to accumulate these coins quickly.

Meanwhile, the LINK price movement also showed resistance gusts at the level of 7.7dolar US (Rp116,000), paving the way to a new resistance level in the US 9dolar (Rp135,000).

In terms of blockchain development, Chainlink Cross-Chain Interoperability Protocol (CCIP) has been launched on the mainnetAvalanche, Ethereum, Optimism, and Polygon. This protocol is an open-source global standard for message delivery, data, and the movement of decentralized inter blockchain tokens.

With strong performance and continued development support, Chainlink shows the potential to continue its positive performance in the crypto market.