You can’t fully judge the future performance of a cryptomoney because of a crash, Bitcoin is an example. Since these market crash events bring with them strengths for the crypt ecosystem. Thus, it makes sense that Chainlink could take strength in the market thanks to the role that DeFi are playing.
During this extraordinary growth in decentralized finance (DeFi) in recent days, many projects have managed to increase their market relevance, even more than others.
Chainlink is the crypto currency with the best performance in the last three months, occupying the 1st place in the list of the most important DeFi projects in the world. The strength that the DeFi boom has given it is more than clear. That is why the graph of the day focuses on Chainlink.
Chainlink is part of the RIF ecosystem
Chainlink falls in the market because of Bitcoin Revolution, however, the DeFi fulfill their role
LINK is not a new idea within the crypto market. Rather, since 2017 Chainlink has existed as one of the most promising DeFi projects. However, cryptomoney had only been a promise that was not fully realized.
Until, thanks to the boom that DeFi are experiencing within the crypto market this year, this project has become one of the most important cryptomonies in the world.
Multiplying its market capitalization, and positioning itself in all the holders of the crypto community. However, despite its macro strength, Chainlink could not avoid the losses that occurred as a result of this move on the part of BTC.
Bitcoin fell to $10,299 at the time of writing. This drop in the market’s quintessential crypto currency has led to a generalized collapse in the last 24 hours.
Analysts are now noticing that Chainlink is trading at a crucial level in the short term, which could have significant implications for their perspective.
They believe that focusing on the region of prices between $12 and $13.50, noting that there is massive liquidity at that point, can slow its decline and allow it to rise significantly higher. In this way, Chainlink can gain strength.