Key takeaways
- Chainlink (LINK) is likely one of the finest performers within the high 20, up 12% within the final 24 hours.
- The coin is rallying on the again of current partnerships.
Chainlink overtakes Hyperliquid available on the market cap record
LINK, the native coin of the Chainlink blockchain, is likely one of the finest performers among the many high 20 cryptocurrencies by market cap. The coin is up 12% within the final 24 hours and is now buying and selling above $23.
This optimistic efficiency signifies that Chainlink’s market cap now stands at $16 billion, surpassing Hyperliqudi’s $14 billion. Which means LINK has turn into the Eleventh-largest cryptocurrency by market cap.
The rally comes after Chainlink launched the Chainlink Reserve final week. The Reserve goals to transform income from Chainlink’s providers and enterprise integrations into LINK tokens, establishing persistent shopping for momentum.
Along with that, Chainlink introduced its partnership with Intercontinental Trade, the guardian firm of the New York Inventory Trade, earlier this week. This can see the 2 entities work collectively to deliver overseas change and treasured metals pricing knowledge on-chain. The partnership showcases Chainlink’s increasing position as a bridge between conventional finance and blockchain rails.
LINK eyes $30 as bullish momentum grows
The LINK/USD 4-hour chart is likely one of the most bullish, due to the coin’s ongoing rally. The technical indicators are additionally bullish, with the RSI of 63 underscoring the immense shopping for strain. The MACD traces additionally crossed over into optimistic territory since final month, suggesting a bullish bias.
At press time, LINK is buying and selling at $24. If the optimistic momentum continues, LINK might break above the primary main resistance stage at $26.9 over the following few hours. An prolonged rally would enable LINK to check the $30 mark for the primary time since December 2024.
Nevertheless, if the market undergoes a correction, LINK might retest the TLQ and assist stage at $21.075. The bulls would defend this stage, as failure to take action might see LINK drop to the month-to-month low of $15.5.