Main navigation

Chainlink Down by 5% as Altcoins Collectively See Massive Decline

Advertisement
Sat, 15/10/2022 - 3:55
Chainlink Down by 5% as Altcoins Collectively See Massive Decline
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to data from CoinMarketCap, Chainlink (LINK) has recorded a 5% drop in price, bringing the altcoin’s 7-days consecutive losses to 10%, at the time of writing. 

Advertisement

Analysis from Santiment also notes that, interestingly, traders were still paying attention to the asset before the dip. 

“Three social dominance spikes appeared for LINK, indicating traders were making moves. The latest occurred just as the price began rising again.” Santiment explained in a tweet.

The downswing in the assets’ price has caused it to fall even further away from its October high of $7.92. 

Broader altcoin market continues in a bloodbath 

In August, CoinMarketCap also showed that Link was towering $9, causing analysts to speculate a possible $10 price break. However, Link continued to sustain a continuous decline in trading volume, leading it to its current levels. 

Similarly, other leading altcoins have seen a notable drop in price since the start of this week and had closed off the week in losses. Cardano (ADA) and Solana (SOL) are two of the highest losers, according to CoinMarketCap, while Ethereum (ETH) and Ripple (XRP) have only sustained mild daily losses.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD