Chainlink Hits All-Time High as Altcoins Beat Bitcoin’s Stagnancy

As Bitcoin continues its daily roll back downhill (at a gentle gradient of about 1% in the past day), other, smaller coins are on their own wild ride to the top. 

Coins such as AAVE and Tezos (XTZ) increased by almost 20%. Other notable gains were made by Uniswap’s UNI and Cardano’s ADA, which both jumped approximately 10% overnight. 

The star of today’s price grab is Chainlink (LINK). Yesterday the price of the coin, which powers Chainlink’s decentralized oracle network, hit an all-time high of $21.19. 

The Link Marines, its militant fan club, were surely ablaze with pride when the coin continued to surge, setting a new all-time high of $21.90, up over 20% in the past 24 hours.

$LINK 1D

It’s all time high season. Get ready for price discovery. #Chainlink pic.twitter.com/pNT044F8ze

— Smug Marine (@SmugAndFree28) January 16, 2021

But some of LINK’s victories have been short lived. On January 10, LINK traded at a high of $18.45 before crashing by over 30% to hit a low of $12.57 the following day. Bitcoin’s precipitous drop to $31,000, a correction from $40,000, caused LINK’s downfall.

Meanwhile, Polkadot has also performed well. Today, DOT’s trading at a price of $16.50 after it made gains this week of over 75%, flipping XRP to become the fourth-largest cryptocurrency by market cap.

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