Chainlink's LINK Token: Recent Performance and Market Insights

Chainlink's LINK Token Performance

Chainlink's native token, LINK, experienced a notable performance boost, appreciating by 2.7% against the dollar in a single day, reaching a value of $27.12 or 0.00077664 BTC. Over the past week, LINK's value rose by a total of 4.7%. The token is supported by a market capitalization of $198.47 million, with a total and circulating supply of 7,319,100 and 7,319,101 coins, respectively.

LINK's Blockchain Network and Use

LINK operates on the LINK Chain blockchain network, established on September 2nd, 2018. This network is designed to support decentralized applications (dApps) for LINE users, offering a stable and performance-oriented platform. For investors looking to trade LINK, purchasing Ethereum or Bitcoin from exchanges like Gemini, Changelly, or Coinbase is recommended before acquiring LINK.

Cryptocurrency Market Landscape

During the same period, the broader cryptocurrency market displayed mixed results. While KILT Protocol saw a 1.1% rise, trading at $0.30 or 0.00000854 BTC, other cryptocurrencies like Aidi Finance, Zoo Token, CareCoin, and OmniaVerse experienced declines ranging from 2.2% to 8.9%. Meanwhile, Kitty Inu and Hokkaido Inu saw modest gains, whereas Jeff in Space and Lumi Credits faced slight losses.

Chainlink's Purpose and Applications

Chainlink was launched by Sergey Nazarov and Steve Ellis on September 19, 2017, with the objective of linking real-world data to Ethereum's smart contracts through LINK. With a total supply of 1 billion tokens and over half in circulation, Chainlink enhances dApps, supporting sectors like financial services and supply chain management. Investors can buy Chainlink by first acquiring Ethereum or Bitcoin on platforms like Changelly, Gemini, or Coinbase.