The Chainlink (Link) token price has grown to a new all-time high. According to data from coinmarketcap.com, the altcoin price rose to $ 21.4, after which it fell to $ 20.2. Over the past day, the cryptocurrency has risen in price by 22%, since mid-December, the growth has amounted to almost 150%. Now the coin is ranked 9th in the ranking of cryptocurrencies in terms of capitalization, writes RBC Crypto.
Link has shown significant growth in 2020. The key reason for this was the surge in popularity of the field of decentralized finance (DeFi. Services related to it use special programs to track the market rate of digital assets – oracles. The Chainlink project develops such programs, they are in great demand in this sector.
In March last year, the cryptocurrency market, like the stock market, experienced a sharp drop. Then the Link rate dropped to $ 1.4. But on the Binance exchange, the decline was abnormal – the altcoin price fell to $ 0.0001 in the short term. A user who was able to take advantage of this and buy coins at an extremely low rate earned $ 22,000 for every dollar invested.
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