Chainlink (LINK) Price All Set For Yet Another Bullish Rally

Chainlink (LINK) Price Falls Following a Short-lived Massive Spike
  • The year-on-year growth in TVS is one of the most remarkable results.
  • Chainlink has been up 8.63% in the last 24 hours.

According to a recent study, Chainlink had a record-breaking year in many ways last year. With over a thousand integrations, $75 billion in TVS (total value secured), and safe off-chain computing using DON, the most widely used Oracle network has already shown its worth.

Many of the most prominent blockchain networks, such as Avalanche, Binance Smart Chain, Ethereum, and Polygon, utilize Chainlink protocols. In addition, several of the world’s most well-known corporations have chosen to establish their own nodes on the network to get access to trustworthy and validated data from a wide range of industries. AccuWeather, AccuWeather, Amazon Web Services, Google Cloud Platform, or Swisscom are just a few examples.

Second Position in the DeFi Ecosystem

The year-on-year growth in TVS is one of the most remarkable results from Chainlink’s 2021 study. A year later, the network had secured $10 billion, ten times more than it had at the start of 2021. In today’s world, Chainlink oracles secure more than $75,000,000. As a result, the network is now in the second position in the DeFi ecosystem.

LINK/USDT: Source: TradingView

During the last 20 days, the price of Chainlink has risen by 47 percent, setting a new swing high of $25.47. Liquidity over the December 27 swing high of $24.50 was captured by LINK during this rise. In order to avoid a reversal to the 70.5 percent barrier at $20.95, market players are likely to take profits and could continue another leg.

According to CoinMarketCap, the Chainlink price today is $25.43 USD with a 24-hour trading volume of $2,391,772,952 USD. LINK has been up 8.63% in the last 24 hours.

Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.