• Chainlink (LINK) has seen a 21% surge in the past 30 days and a 10% increase in the last 7 days.
• The successful integration of Synthetix into the CCIP mainnet and other protocols drives LINK’s recent momentum, opening up various use cases and boosting its utility.
• Chainlink’s on-chain volume has reached its highest this year, indicating growing adoption of digital currency.
Chainlink (LINK) Defies Crypto Market Slump
Chainlink (LINK) has gained significant attention with a 21% surge in the past 30 days and a 10% increase in the last 7 days, approaching $8.50, displaying relatively stable movements despite the market slump. This sudden upward trend has led to increased activity in the LINK market due to its impressive rally.
Drivers Behind LINK’s Momentum
One of the key drivers behind LINK’s recent momentum is the successful integration of Synthetix into the CCIP mainnet , with BGD Labs (Aave) also adopting the technology into their protocols. The Chainlink Cross-Chain Interoperability Protocol (CCIP) addresses complexities associated with cross-chain solutions and enhances security measures to mitigate risks of potential exploits, thus providing a solid foundation for its recent bullish price moves.
High On-Chain Volume
As per data provided by IntoTheBlock , there has been a remarkable rise in engagement of new addresses for Chainlink, indicating an increasing adoption of digital currency. Moreover, network accomplished a significant feat by reaching its highest on-chain volume of $350 million this year.
Maintaining Momentum And Upside Potential
Over the last seven days, Chainlink has exhibited substantial price gains rising over 13% from its value a week ago (July 19). The altcoin was trading at $6.5286 hovering near neutral territory before experiencing bullish sentiments across different exchanges earlier today (July 26).
Users can purchase LINK tokens quickly and securely through PayPal or credit card on various cryptocurrency exchanges such as Binance or Coinbase Pro using USD or any other fiat currency supported on these platforms.