Chainlink (LINK) Performs Well Despite Market Uncertainty

Chainlink (LINK), despite being in uncertain times, has shown remarkable results over the past seven days. It went from $7.05 up to reaching its $7.9 resistance, but it failed. Investors and traders still made decent profit.

Some of these are also available. analystsChainlink could finally make it to the $8 area, we are optimistic. With October being a bullish season for altcoins and Chainlink’s recent Hebys partnershipThese predictions appear to be practical.

Read Related Reading: Bitcoin Prices Kicks off Week in Red. What Caused the Crash?

A New Resistance to Chainlink at $8

Chainlink is one crypto that has been making profit despite all the volatility in the market. Chainlink made substantial profits last week despite some market volatility. Last week, the oracle provider was at $7.38 per floor. But, crypto dropped sharply to $7.05. the day after. 

It quickly found support at the level, and it recovered quickly, returning to its beginning floor on Tuesday. The stock continued to gain some good gains throughout the week, even testing $8. It found resistance at $7.9, but then it dropped back. Chainlink currently trades at $7.5 Source: LINKUSD price chart from

LINK’s price is currently hovering above $7.50. | Source: LINKUSD price chart from

Chainlink’s 1D Chart Doesn’t Look So Good.

Chainlink hasn’t been performing well in the last 24 hours despite swimming in profit from last week. LINK is down 0.40% at the moment, though it was worse earlier in today. The open-source protocol’s token dropped from its $7.55 floor to $7.42, leaving traders with a 1.72% loss. The token had risen to %7.65 earlier and appeared like it would continue the momentum.

At the time of writing it had slowly returned to its normal flow. However, it’s uncertain how high the crypto will go since the day has been sluggish generally for altcoins. LINK, however, has managed to hold its ground against both Bitcoin and Ethereum. The cryptocurrency has seen a 0.35% increase in value and an additional 0.43% for each token. 

It has also seen a significant amount of trading volume activity. LINK’s trading volume is approximately $293,395,930It was a staggering 29% increase in trading volume in just one week. The growth indicates that the altcoin may have more potential to expand before trading ends.

An excellent week for Chainlink regarding Partnerships

This week, the Chainlink community welcomed bullish news. A partnership was announced by the blockchain company with Sigma Two Securities on October 5. Sigma Two Securities is both a system liquidity provider and trading firm. The partnership brings the latter’s high-quality market data on-chain using Chainlink’s robust decentralized oracles network.

According to Press Release, Chainlink will add Sigma Two Securities’ data to its Tamper-resistant Oracle Report. This action will allow for a greater number of smart contract use cases that are based on financial market aggregate services. 

Read Related Article: Ethereum’s highest day of growth in 2022. What will the future hold for ETH?

Another Announcement, Hebys integrated Chainlink’s Verifiable Random Function (VRF) on several NFT blockchains, including Ethereum, BNB Chain, and Polygon. It allows them to distribute NFT on their platform randomly. 

Featured image by Pixabay, chart from

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