Hot News

Market Watch: Chainlink (LINK) Soars 9%, Bitcoin’s Sideways Action Continues

Bitcoin is still unable to produce any significant gains and fell below $47,000 once again. Its dominance continues to decrease, while some smaller and mid-cap altcoins outperform it. In the past 24 hours, such is the case with Chainlink, which spiked by nearly 10%.

Bitcoin Failed at $47K

It’s safe to say that BTC has not produced any of its enhanced volatility lately that it’s so often criticized for. The last more notable fluctuation came on December 31st when it pumped suddenly from $47,000 to $48,500 but retraced even more vigorously to $45,800 in hours.

The asset started the new year on a more positive note and jumped back to $47,000, where it spent the next few days. Yesterday, it dropped below $46,000 once more before the bulls stepped up and pushed it to $47,500.

Yet, the cryptocurrency failed at that level and found itself sitting at $45,800 hours later. As of now, it has jumped to nearly $47,000, but its market capitalization is still below $900 billion.

Read more:  Celsius Network Reportedly Lost $50 Million in the $120 Million BadgerDAO Hack

Moreover, BTC’s dominance over the altcoins continues to fade away, and it has declined below 40% on CoinMarketCap.

Alicia BakeryCMO – A really good agency

Did you like this market update?
This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours!

Market Watch: Chainlink (LINK) Soars 9%, Bitcoin's Sideways Action Continues

BTCUSD. Source: TradingView

LINK Takes Over

Most larger-cap altcoins have been equally calm lately. The past 24 hours are no different. Ethereum has dabbled with $3,800 for several days and now trades just above it after a minor 1.5% daily increase.

Binance Coin, Solana, Cardano, Ripple, and Polkadot are slightly in the green as well, while Terra, Avalanche, and Dogecoin have charted minor losses.

Chainlink is the most significant gainer from here. LINK has surged by 9% in a day and sits north of $25.

Read more:  Dogecoin Still in the Lead on Robinhood in Q2, Accounts For 62% of Crypto Revenue

More increases come from ICP (24%), Mina (16%), BitTorrent (15%), Velas (14%), Immutable X (11%), Helium (11%), and The Graph (10%).

The cryptocurrency market capitalization has risen slightly to $2.250 trillion.

Market Watch: Chainlink (LINK) Soars 9%, Bitcoin's Sideways Action Continues

Cryptocurrency Market Overview. Source: Quantify Crypto

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Tags: Bitcoin (BTC) Price Chainlink (LINK) Price

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button