Chainlink Price Spikes Above $7 While Bitcoin Sinks Below $20,000

Cryptocurrency is a popular investment asset due to its volatility, which includes altcoins like Chainlink. Daily traders are very concerned about an uptrend, but dipping can be beneficial for long-term accumulation.

Over the weekend, the crypto market saw some slight upward movement in most token prices. The last week saw a decline in prices, but there is still hope for this week.

An analysis of altcoins on a 24-hour basis shows that there was a positive trend last Sunday. All tokens made significant gains in an upward trend. LINK was the native token of Chainlink, which led among other things.

The story for primary cryptocurrency is different. BTC crashed on Saturday after it moved to the $19,000 area.

Chainlink leads as the best performer

A positive turnover was seen in the crypto market, particularly with respect to the performance of altcoins. The outcome has not seen another decrease in the total market cap. The market cap is now at $950 billion.

As the most popular altcoin, LINK has been named the leading native coin. With an estimated price of $8, the token saw an increase of more than 5% during trading hours today.

Chainlink Price Spikes Above $7 While Bitcoin Sinks Below $20,000 Chainlink is on the Rise l LINKUSDT

Ethereum has a progressive recovery from the 20% drop after merger. ETH retreated to the green once the price reached the $1,300 mark.

Others altcoins saw their value rise. Solana (SOL), and Shiba Iu (SHIB) both saw slight increases in their values. Despite Vasil Upgrade launch, Cardano’s price remained stagnant at a specific level.

A couple of crypto assets are Polkadot.

BTC Stagnates At Around $19,000

Bitcoin’s performance over the last week was not very impressive. However, it is notable that before the US Federal Reserve’s rate increase, BTC made an upward jump. It rose from around $18,300 up to $20,000.

But, it was only temporary. BTC’s price plunged after the announcement about the 75-bps increase in interest rates. In just hours, the principal crypto asset had lost nearly $2,000 in value.

Bitcoin fell to an all-time low of $18,100 after three months. A new panic gripped the crypto market as selling pressure rose.

After a couple of days, however, BTC prices began to recover and climbed back up to $19,000. As the market faced more bulls Bitcoin rose to $19500 during the trading hours today and yesterday.

BTC traded at around $19187 at the time this article was written. That’s a 0.71% rise over the 24 hours preceding. BTC’s market capital is close to $365 billion, and its dominance has been restored at 39% over altcoins.

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