Chainlink (LINK) has exploded again, recording double-digit growth and setting another ATH. It was followed by the Tezos (XTZ), which was also at the highest level in history.
LINK and XTZ glide up
While Bitcoin (BTC) and almost all of the biggest cryptocurrencies are red today, one of the leading altcoins, Chainlink (LINK) has a two-digit increase. According to CoinMarketCap data, LINK has increased by more than 40% over the last 24 hours, reaching another all-time high of $17.86. Currently, LINK's price is about 17.1 USD.
Chainlink has been growing at a fast pace since mid-March, but the strongest increases took place in the last month. At the beginning of July, cryptocurrency cost less than 5 USD, but a month later the price reached 10 USD, and yesterday, after only a week, it exceeded another important limit of 15 USD, approaching 18 USD today.
In turn, LINK's market capitalization exceeded USD 6 billion, making it the fifth largest cryptocurrency in the world, ahead of Bitcoin Cash (BCH). Since the March holes around 1.5 USD, the value of the cryptocurrency increased by almost 1100%.
Apart from LINK, among high-capacity altcoins, there is also Tezos (XTZ), which increased by 22% since yesterday. Today XTZ reached the highest level ever at USD 4.48.
XTZ's market capitalization, on the other hand, has increased above USD 3 billion, which has made the token the tenth largest crypto in the world. Currently, the price of XTZ is USD 4.3.
What is hidden behind the enormous growth of Chainlink?
While the huge increase in Chainlink is causing stunned skeptics to scratch their heads, Wilson Withiam, a Messari analyst, states that beyond the explosion of Decentralized Finance (DeFi) popularity, there is another main reason why the token continues to set new records of all time - the enormity of partnerships.
Chainlink has already managed to make his decentralized "oracle" - used in the dynamically growing DeFi - industry standard, announcing new partnerships throughout the year. According to Withiam's estimates, since the launch of the main network, Chainlink has established over 200 partnerships.
As Michael Kapilkov writes, because Chainlink is "the best known player in this field, it can win the most in the development of the DeFi space".
LINK over $25?
In April this year, Michael Anderson, co-founder of Framework Venture and early investor in Chainlink, said in an interview that LINK could grow above $25 in the near future.
At the time, his predictions seemed to be out of touch with reality - at that time, LINK's price was below $4 - but now they are becoming increasingly realistic. "I don't think it's unreasonable to assume an amount above $25," said Anderson.