Today, Chainlink (LINK) is going through a process of change. Within 14 days, the price of the smart contract platform, or a LINK token, rose by almost 75 percent to a new all-time high. Due to numerous partnerships with large companies, the last all-time high was just six months ago.
The emerging DeFi sector has a positive influence on the Chainlink rate. Numerous Google search queries also speak for themselves. According to publicly available data, searches around the LINK token reached a maximum value of 100. This reflects a great interest in the cryptocurrency.
Chainlink Causes a Sensation: DeFi as a Key Driving Factor
An ERC-20 token hits a new all-time high almost every day. Between July 12 and 13 alone, Chainlink’s market cap grew by over $1.5 billion. Taking into account the fact that the project is only a few years old, this is an impressive achievement.
But the increase isn’t surprising. Google is one of the largest companies in the world and a close partner of Chainlink. Many other cryptocurrencies also use Chainlink’s technology.
On July 8, Nexo — a crypto credit company with 800,000 customers — also expressed the desire to use Chainlink’s Oracle technology. Chainlink also benefits from a general increase in the DeFi sector. The current hype is somewhat like an ICO boom in 2017 & 2018, when a large number of new crypto projects were created for impressive rate jumps. More and more investors are waiting for a so-called Altcoin season — a general increase in the entire altcoin market.
Hot News: Chainlink Breaks a $10 Mark
For a few days now, the smart contract platform has been stuck. The DeFi hype drives the price of many altcoins up. The LINK rate has increased by 600 percent in the last 6 months. In line with increasing Google search queries, it has increased by 75 percent in the last 14 days alone. According to various analysts and forecasts, the $10 mark seems an impossible task. However, this would be another 25 percent increase at the current time.
The Chainlink ‘rally’ seems to have no end. The $6, $7, and $8 marks were reached within 24 hours. The emerging DeFi sector has an effect on the current increase. Such an increase marks the success of major crypto projects from late 2017 and early 2018, as well as the ICO boom.
Quite a few experts also expect Chainlink’s further increase in the coming time. The next major goal is the $10 mark. Recently, the smart contract platform has broken into the top 10 largest cryptocurrencies by market capitalization.