Veteran cryptocurrency trader, Peter Brandt, is putting hope in Chainlink (LINK) shortly after the digital asset flipped Binance Coin (BNB) and Litecoin (LTC), before having a little retracement.
Peter Brandt, who had earlier seen nothing good in trading Chainlink, came again to say it’s a lot of fun trading the digital currency.
He said the chart shared by a crypto trader Bob Loukas did what it was designed to do. Speaking further, the Veteran trader said the chart “was a beautiful ascending triangle” reflecting Loukas is a professional in the arena.
Peter who appears a devout opponent of some digital currencies is throwing his full weight behind the seemly formidable Chainlink, which has a market value of $2,793,193,087 USD that allowed it to move past Binance Coin, TRON, and a host of other crypto assets.
Chainlink (LINK) Maintains Steady Position
When Chainlink first rallied, it touched the 8th position and unseated Litecoin before returning to the 9th position with 10.06% price growth in the last 24 hours. At the time Chainlink was on the 8th position, its market cap was around $2.84 billion.
In the past, LINK had touched $8.22, this being its all-time high. However, during this present rally, LINK went close to it previous high, touching $8.17. At the time of filing this report, LINK is trading a little above $7.
Chainlink’s LINK has been among the crypto’s best-performing assets of 2019 and 2020 after gaining over 2,500% return on investment (ROI) since it was unveiled in 2017.
Chainlink’s Series of Partnership
One major ground for LINK’s recent dramatic and splendid rally is the growth of Decentralized Finace (DeFi), however, opinions have it that LINK is not connected to any viable business other than some set of individuals betting on Chainlink with huge funds.
Shifting from the claims, LINK has made an impressive growth as one of the highest gaining coins on Aave protocol, and there are indications on Google Trends that people are more interested in Chainlink than in the past.
Another possible reason for Chainlink’s growth is the series of partnerships sealed by the firm in recent times.
Revolution Populi, a platform working on creating “a secure and reliable end-to-end, roundtrip digital ecosystem” making use of blockchain technology has announced a partnership deal with Chainlink. Revolution Populi says it partnered Chainlink to be able to challenge the likes of Twitter, Facebook, and some other big firms that have captured and coasted the sovereign right and privacy of internet surfers.
Also, Bamboo Relay, a proclaimed relayer for decentralized protocols, has integrated Chainlink Oracles.
The two are among the many platforms and businesses that have integrated the decentralized protocol in recent times.