Chainlink (LINK) and Cronos (CRO) have recently enjoyed positive price movements, despite the market’s uncertainty over cryptocurrencies. Each token saw a slight increase of around 15% since their low point on 7 days ago.
CRO and LINK continue to be ranked top-50 despite recent gains. Based on market capital. These two tokens maintained high volumes of trading over the past seven days.
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Upward Trends Amidst Market Uncertainty
However, the bearish trend is still affecting all crypto markets. However, LINK and CRO managed to maintain an upward movement amid investors’ concerns about the future of cryptocurrency markets.
LINK was one of the top-performing altcoins for this week. The altcoin gained more than 21% from last Thursday and reached an all-time high of $8.46 yesterday. This is not surprising considering the token’s performance in the last 30 days. LINK saw a 16% increase in its monthly gains.
We can’t say the same for CRONOS’ 30-day performance. It did however manage to rise by 16.9% over the last seven days. Its current value is $0.110. That’s an increase from the $0.105 low point.TradingView.com provides a price chart for CROUSD.
Reasons For LINK’s Positive Moves
recent tweetSantiment reported that investors opted for selling LINK assets they had purchased in the wake of a decline in prices. Yesterday saw LINK reach a new local record of $8.46. Market participants could benefit from this. According to Santiment’s analytics team, the number of LINK transactions reached four times what was expected.
another tweetSantiment reported that LINK stakeholder activity reached its peak on September 28. LINK was able to break through the $8 threshold despite general bearishness and start a period in growth despite this despite the market’s overall bearishness. The increase led Santiment analysts to conclude that LINK has been “decoupling” from other cryptos in the last 10 days.
The coin’s price, however, was unable to maintain the new high. According to CoinMarketCapLINK dropped by over 0.22% within the last 24 hour to $7.89 at time of writingSource: LINKUSD chart on TradingView.com
Social Engagement Responsible For CRO’s Rise
CRO has had a remarkable week. The statistics of the crypto social analytics company show that CRO has seen a significant increase in traffic. LunarCrushThe altcoin came 26th in market capitalization.
The previous week has also seen a surge in CROs’ social engagement. The total number of CROs’ social media mentions has risen 40% to 37,000 as of September 23rd. Also, the value of CRO’s social engagements went up by 14% over that time, reaching $61.6 million. The alt’s price rose by 13% as of September 23rd, According to LunarCrushBecause of increased interest on social media.
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The average supply of CRO per day on the exchanges decreased by 1% over the past week. To investors’ relief, this trend swung in their favor as an uptick in the indicator would’ve signaled a rise in selling pressure. CRO gained 3.6% value in the past week, according to volume traded. CoinMarketCap.
Featured image taken from Pixabay. Chart from TradingView.com