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October 4, 2022
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Chainlink impresses with record performance

Chainlink has presented an excellent performance in the last months

Whatever the Chainlink Network team is doing, they are doing very well. The Chainlink token (LINK) has even exceeded price expectations, even with the current bullish run in the cryptocurrency market.

Although many other cryptocurrencies, including Bitcoin, have stagnated in recent days, Chainlink seems to be gaining momentum. Bitcoin’s price has retracted, but altcoins like Chainlink are still making big gains in the market.

According to a recent analytical report by Santiment, Chainlink increased its number of new addresses to 143% more than in October.

“The growth of the $ LINK network, which measures the number of new daily active addresses created, continues to grow rapidly. Today, its 5,301 new addresses created are 143% higher than its 2,189 three months ago. That number reached almost 10,000 five days ago.

Chainlink is a decentralized oracle provider that has gained massive use in both the blockchain and the crypto space.

Impressive statistics for Chainlink (LINK)

On Saturday, the LINK token reached its peak after a huge price increase for several hours. His performance means that he overtook Litecoin (LTC) and became the seventh largest cryptocurrency asset by market value. Litecoin’s market capitalization is around $ 9.6 billion, while LINK’s market capitalization is now $ 10 billion.

Although LINK’s price retracted below the $ 25 level, it skyrocketed even further to reach $ 25.17 on Monday, representing a 3.6% increase in less than 24 hours. Within a week, LINK achieved a 14% gain, making it the second best performing crypto asset, with Ethereum the only currency ahead.

Interestingly, the cryptocurrency was traded at around $ 2 to $ 3 just a year ago. Those who had faith in the token at that time are reaping the rewards for their patience now.

Complete performance for altcoins

LINK is not the only altcoin to gain significantly in the past few days. Polkadot gained more than 7% to maintain its place as the fourth largest cryptocurrency in market capitalization, surpassing Ripple’s XRP in the process.

XRP was the victim of a serious lawsuit filed by the SEC against its parent company, Ripple. The currency lost most of its value after major exchanges distanced themselves from the token.

Bitcoin started to fall last week, when it dropped to less than $ 29,000. The main cryptocurrency experienced intense selling pressure when investors withdrew from the market to retain the gains they have accumulated in recent weeks. However, it is gradually returning to that level and has had no serious price movements in the past few days.

Ethereum (ETH) also reached a record high of $ 1,450, which is a small fraction greater than its previous record of $ 1,440 in 2018.

Source: InsideBitcoins

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