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Chainlink (LINK) Leaves Top 20 Cryptocurrencies by Market Cap: Possible Reasons

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Thu, 12/02/2021 - 16:12
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Vladislav Sopov
Here's how Chainlink Marines' crypto left elite club
Chainlink (LINK) Leaves Top 20 Cryptocurrencies by Market Cap: Possible Reasons
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LINK, a core digital asset of decentralized oracles network Chainlink, finally left CoinMarketCap's top 20 of cryptos by capitalization. At the same time, it seems that this is not its fault.

LINK leaves top 20, replaced by ALGO

Today, on December 2, 2021, Chainlink (LINK) sees its LINK token in red: the asset has plummeted 7% in 24 hours. As such, its capitalization drops to $11.6 billion.

LINK left top-20

Just like Cardano (ADA), LINK token trades down more than 50% from its all-time high registered on May 9, 2021, above $52.

ALGO, a token of high-performance smart contracts platform Algorand, demonstrates an almost  5% dropdown but surpasses Chainlink (LINK) by market capitalization.

Algorand (ALGO) added more than 50% in just three months and entered the top 20 by market capitalization for the first time in its history.

Battles of large caps

At the same time, Chainlink (LINK) leaves the top 20 not only thanks to Algorand (ALGO) but also due to the impressive rallies of other major altcoins.

In recent days, Terra (LUNA) and Polygon (MATIC) have spiked to new historic highs. The rivalry in the 10-20 zone has become quite savage.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)