Chainlink (LINK) Displays Interesting Q3 Growth Trends: See What Data Says

Sat, 09/30/2023 - 14:53
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Chainlink (LINK) is surprisingly pulling a leg up today as the broader digital currency is all about settling off September on stellar notes. Chainlink is no different as it is changing hands at a price of $8.18, up by 6.24% in the past 24 hours. With current price trends, $285.5 million in LINK has been traded over the past 24 hours.

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LINK is a spirited token whose growth is essentially fueled by its massive and growing utility. The digital currency remains a vital component of Chainlink's oracle services and the new Chainlink Cross Chain Interoperability Protocol (CCIP), which is now being embraced by many networks in the Web3.0 ecosystem.

The intriguing aspect of Chainlink's growth over the past few months is that it has outpaced most of the prominent coins in the industry today. According to on-chain data, Chainlink is up by more than 17% in the past week as compared to just about 1% for Bitcoin. The foundation for the LINK growth has made it one of the few profitable tokens in the market today.

Per current performance data, Chainlink is up by 27.76% in the quarter ending today, marking the second straight quarter it is ending in gains.

LINK setting stage to soar

While Chainlink may be one of the obvious gainers today, it is notably setting the stage for massive growth through strategic partnerships and new product launches it has placed a clear premium on over the past year.

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One of the most profound to note is the SWIFT payment experiment that featured Chainlink and helped showcase just how versatile it can be even in non-blockchain systems.

In the past few months, Chainlink has welcomed integrations from Arbitrum (ARB) and has also gained traction as a favorite altcoin for whales, all helping to solidify its growth potential.