Above the market value of both litecoin and binance coin
The cryptocurrency chainlink has been in full swing lately.
The price of the cryptocurrency chainlink, which has the ticker LINK, has since the beginning of July gone from about 4.50 dollars per token to around 8 dollars per token today, according to figures from Coinmarketcap.
This is an increase of over 77 percent. In fact, the price of the cryptocurrency reached as high as $ 8.70 yesterday afternoon, which is a new price record.
At the same time, the market value of the cryptocurrency has also increased significantly. Yesterday afternoon, it reached 3 billion dollars, which meant that the chainlink passed both litecoin and binance coin in market value.
Increased 2500 percent since launch
Chainlink is a blockchain on which the cryptocurrency link (LINK) is located. Through the cryptocurrency, the user can link smart contracts to, for example, applications and payment systems, as well as perform transactions and exchange assets with other users without involving a third party.
Chainlink has been one of the altcoins that performed best in 2019 and 2020. Since it was launched in September 2017, it has risen by over 2500 percent, writes Cointelegraph.
It is assumed that the increase in the price of cryptocurrency is partly due to the growing «Defi» industry. Among other things, you can «stake», ie unlock your chainlink tokens, on various «Defi» platforms and thus get a relatively high interest rate return on their cryptocurrencies.
The number of Google searches on «chainlink» has also increased recently according to data from Google Trends, writes Cointelegraph.