Chainlink (LINK) is among the many best-performing cryptocurrencies within the final 24 hours. The asset’s worth has surged by greater than 20% within the every day charts, in comparison with Bitcoin (BTC) rallying 3.6% and Ethereum (ETH) rallying 7.1% in the identical timeframe.
LINK’s worth has risen by 20% within the every day charts, 12.9% within the weekly charts, 48.4% within the 14-day charts, and 84.5% over the earlier month. The asset’s worth has additionally risen by 79.3% since December 2023.
Why Is Chainlink Rallying Today?
LINK’s newest upward swing could possibly be as a consequence of a common market resurgence. Bitcoin (BTC) has reclaimed the $101,000 stage and is inching nearer to a brand new all-time excessive. Investor sentiment might decide up steam as soon as once more.
Another attainable motive for LINK’s rally could possibly be rumors a couple of potential BlackRock partnership. Members from each events reportedly met on the Abu Dhabi Finance Week. The studies have led to hypothesis whether or not each firms are engaged on a partnership.
Will The Asset Hit $50 Next?
Chainlink (LINK) is at the moment down by 48.4% from its all-time excessive of $52.70. The asset’s worth peaked in May 2021.
According to CoinCodex, LINK will proceed to rally over the following few months. The platform predicts LINK will commerce at a brand new all-time excessive of $66.77 on Feb. 21, 2024. Hitting $66.77 from present worth ranges will end in a rally of about 138.98%.
Several analysts anticipate the crypto market will surge underneath Donald Trump’s management. Many anticipate an prolonged bull run over the following few years. Trump has named a White House crypto czar and a brand new crypto-lenient SEC chair. Under such market situations, LINK’s worth may finally breach the $100 mark.
