A profitable month for LINK HOLDers with Chainlink experiencing new price discoveries

A profitable month for LINK HOLDers with Chainlink experiencing new price discoveries

By Greenchic | Investing and Trading | 13 Aug 2020


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Chain Link is having new price discovery ranges with it now having touched 17$

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Chainlink(LINK) has been in the price discovery territory since July 8 where it touched 6$, post that price of link has been climbing up to new All time Price Highs, with more price discoveries taking place - 6$, 8$, 10$, 12$, 17$. Talks are around in the crypto circles that it is Chainlink, who is the king in leading the Crypto rally right now.

 Link is a top leading coin in Market Cap and Daily Trading Volume

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5th Largest Coin in terms of Market Capitalization, details taken from https://www.coingecko.com/

The oracle protocol token, is the 5th largest coin in terms of market capitalisation having pushed large cap links like Litecoin, Binance Coin, Bitcoin Cash to lower market cap rankings.

In terms of daily trading volume, LINK is the 4th most traded coin after BTC, ETH and stable coin USTD with High trading volumes.

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LINK 4th top coin in terms of daily trading volume, details taken from https://www.coingecko.com/

LINK holders getting price gains after gains for the last 2 months

Two months of HODLING this coin would have given gains of 280% as LINK was about 4$ two months ago, now as on the time of writing LINK price is 16$, with 24 hour gains of above 20%.

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Link's weekly, monthly, day wise gains reported by Coingecko

Last month there was an attempt by an entity to create a FUD on LINK token, so it’s price falls as a fake report circulated accusing LINK to be a scam project, engaged in market manipulation. However, we have seen that the price of LINK has only been rising.

 Crazy LINK price action, the token was 1.6$ at March after the Black Thursday crash

Right now LINK’s resistance is at 17$, it would be interesting to see where the price settles. If I had LINK tokens , I would have sold a portion and booked profits, because profit booking gives me a high .

Although I sold off my LINK tokens this year when it fell to its lows of 1.6$, during this year’s Black Thursday crash, I knew it was one of the promising coins that would appreciate in value. I needed money so had to sell my LINK holdings off, when it would have been the a ideal point to have brought more LINK,

LINK’s the leader in the category of Oracle project tokens

LINK was already getting adopted by many prominent enterprises for receiving reliable price feeds. Now of course LINK has competition with other Oracle protocols like BAND. I hear Band has been rising in price like crazy of late because of the token’s Coinbase listing.

However, LINK has a advantage as it’s had a headstart in terms of the project’s adoption and market capitalisation, so other competing tokens have to play catch, not going to be easy.


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