Chainlink coin trading volume on exchanges hits record high

by in Cryptocurrency News

LINK

Altcoin Chainlink (LINK) is currently trading at its highest level in its history. If you look at the chart presented by the CoinMarketCap service, you can see that over the past two years, the cryptocurrency has been moving mainly along an upward trajectory.

LINK traded just above $ 8.3 on Friday, July 17th. Over the past day, the altcoin capitalization has added almost 2%, and now it exceeds $ 2.933 billion. There is an increase in trading in this digital asset on crypto exchanges.

According to Gemini CEO Cameron Winklevoss, in the last 24 hours, the volume of transactions in LINK coins has exceeded the volume of transactions in Ether on this exchange.

The head of the FTX exchange Sam Bankman-Fried also drew attention to the increased activity of investors who invest in Chainlink. He noted on Twitter that LINK even surpassed Bitcoin in terms of the trading volume.

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A similar statement was published by the Kraken platform. Its daily market report says LINK's trading volume continues to rise. Moreover, traders are more interested in this asset than ETH.

However, in the expert community, many doubt that the growth of transaction activity will necessarily lead to a new leap in cryptocurrency.

Recently it became known about an increase in the flow of coins to exchanges, which signals the intention of large holders of cryptocurrencies or "whales" to dump some of the accumulated LINK coins.

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According to analyst Cole Garner, a massive sell-off could result in a 50% drop in the value of the cryptocurrency.