Chainlink’s token surged more than 45% from $9.53 to $14.09 between Friday and Sunday statistics reveals.
The spike saw chainlink’s (hyperlink ) market capitalization shooting to $5.12 billion that makes it the sixth most capitalized token, only before cardano (ADA).
At the time of writing, chainlink is the only top ten token using a double profit gain of 23% at the past 24 hours. Supporters of this project think it could reach $20 at the end of August.
The token price’s meteoric rise is a large win and a endorsement for Chainlink endeavor, that has had to compete with averments that the job is overhyped.
In exactly the exact same time, chainlink’s increase can also be a devastating reverse for Zeus Capital LLP, which insists that the price goes to zero. Zeus Capital LLP is thought to have opened a brief spot in the token with expects to cash in when the price drops.
Meanwhile, Zeus Capital LLP’s aspersions motivated Chainlink fans to begin a campaign aimed at liquidating the former’s position.
Based on statements attributed to Santiment, a cryptocurrency analytics company, this really is one likely reason behind the current bullish sentiment about the token. However, Santiment notes that “some crypto investors are taking long positions” because they are confident of Chainlink’s prospects.
Furthermore, a tweet by Santiment states not only has the price of chainlink (LINK) reached an all-time high, but “daily active addresses (15.6K and counting)” increased as well.
Meanwhile, Zeus Capital LLP, which has made itself a nemesis of Chainlink, has produced dossiers that allegedly spread fear, uncertainty, and doubt (FUD) about the Chainlink project. In its latest installment, released August 5, Zeus Capital LLP is targeting Chainlink supporters.
On August 8, in a tweet that seemingly tries to keep its campaign alive, the asset management company insinuates that U.S. regulators might now be interested in the case. The post claims:
All set! Now wait till @SEC_Enforcement go after @Smart_Contract as they’ve performed an unregistered Offering in 2017 and both co-founders are US citizens who sold to US investors. $hyperlink is going to zero.
While it remains unclear how long chainlink’s bull run or the controversy will last, crypto investors continue to show interest as evidenced by daily volume. At the time of writing, daily volume had surpassed $1.6 billion.
What do you think of chainlink’s performance? Share your thoughts at the comments section below.
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