Chainlink surges more than 35% in a week, total market cap reaches $2.34 trillion
Chainlink surges more than 35% in a week, total market cap reaches $2.34 trillionChainlink surges more than 35% in a week, total market cap reaches $2.34 trillionAltcoins (Symbolbild)Altcoins (Symbolbild)

Chainlink (LINK) is emerging as the winner of the recent altcoin rally. The highly valuable cryptocurrency is making big gains, surpassing a $15 billion market cap today for the first time since May of this year. It’s up more than 12% in the last 24 hours.

LINK becomes 12th largest digital asset

Chainlink is the 12th largest digital asset in the world in terms of market dominance. With a market cap of $15.03 billion, it now surpasses many other impressive assets, including Bitcoin Cash (BCH), Litecoin (LTC), Terra (LUNA), Filecoin (FIL), and Polygon (MATIC).

Santiment, an on-chain and social metrics platform covering more than 2,000 cryptocurrencies, tweeted on the occasion:

Chainlink’s market value has increased 119% in the last six weeks and has increased another 12% in the last 24 hours. The rate of notable GitHub submissions from LINK developers has undeniably increased rapidly over time.

Earlier this year, Chainlink was priced at around $11 per token. The digital asset began to gain popularity among both institutional and retail investors in the first five months of the year. On May 10, LINK reached a high of nearly $52. Chainlink Trust was launched earlier this year by Grayscale, the world’s largest digital asset management company.

Recent developments

Currently, the powerful asset is trading at $34. Its value has increased by more than 150% after hitting a low of almost $13 at the end of July this year. Currently, its market dominance is around 0.6%.

See also  Coinbase: Plaintiff seeks millions in damages after DOGE promo

Like Bitcoin, altcoins have also surged in recent weeks. In the past week, Bitcoin’s price rose by about 7%. Other altcoins enjoying positive sentiment include Polkadot, Solana, Ripple despite the SEC lawsuit, and Ethereum. Ethereum is down about 13% today, but is up 25% over the past week. During this period, Polkadot and Solana rose almost 40%.

Market capitalization of $2.34 trillion

Currently, the total market capitalization of digital currencies is around $2.34 trillion. This is an increase of over a trillion dollars since the end of July this year. The total market capitalization of cryptocurrencyungen has increased by nearly $60 billion in the last 24 hours. The largest and most valuable digital currencies in the world are Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Tether (USDT) and Binance Coin (BNB).