Chainlink (LINK) has performed strongly over the past week, with the token’s price increasing 21.3% in the last seven days. Some analysts have shared their predictions and thoughts on LINK, suggesting keeping an eye on the token and its long-term performance.
What Is LINK’s Next Steppingstone?
Recently, Chainlink announced its partnership with blockchain platform Avalanche and the Australia and New Zealand Banking Group to connect the Avalanche and Ethereum blockchains using Chainlink’s Cross-Chain Interoperability Protocol (CCIP).As reported by NewsBTC, the partnership aims to facilitate the “access, trade, and seamless settlement of tokenized assets across networks in different currencies in a process called Delivery vs. Payment (DvP).”
4hr – has been strong today, but now banging into some resistance – if it can flip this into support your next big target is around 28 — @TheLordofEntry (@thelordofentry)
Chainlink’s “Very Strong” Long-Term Performance
Despite the failed attempts, LINK’s price surged 9% in the past 24 hours. Interest in the token has seemingly risen in the same timeframe as its market activity increased by 55.19%, reaching a daily trading volume of $539.9 million.
Its market capitalization also increased by 8.16% in the past day, reaching $12.02 billion. Chainlink is the 14th-largest cryptocurrency by this metric, according to CoinMarketCap data. Moreover, LINK has shown a remarkable 182.6% performance in the last year. As a result, crypto analyst Altcoin Sherpa shared some notes on LINK, suggesting that it shouldn’t be actively traded. Sherpa stated that the token is a better fit to “buy and hold” as it is a “safe coin that is going to do strong numbers.”: A few notes w. this one- -you shouldn't be actively trading this. Loads more volatile coins (though this has nice liquidity) -Better to buy and hold, this is a safe coin that is going to do strong numbers -Still fundamentally v. strong, 1 of the best. -still expecting… — Altcoin Sherpa (@AltcoinSherpa)The analyst considers LINK fundamentally “very strong” and one of the best tokens based on its long-term performance. Ultimately, Sherpa predicts the price will “consolidate for a bit longer before its next move.”
Chainlink hits $20.6 in the 3-day chart chart. Source: LINKUSDT on