Chainlink (LINK), the cryptocurrency has seen an impressive surge of 9%, outpacing the steady Tron (TRX) and sparking discussions on its potential to break into the coveted top 10 of cryptocurrencies by market capitalization.
LINK's price has climbed to $18.45, pushing its market capitalization to over $10 billion.
Meanwhile, TRON's modest gains have not been enough to keep up.
Other major coins
Bitcoin (BTC) has shown a mild 24-hour change but a positive weekly performance, suggesting a resilient but slow-growing confidence among investors.
Ethereum (ETH), the second in line, also demonstrates a slight dip over the past day, yet maintains a positive outlook over the past week.
BNB and Solana (SOL) also had positive weekly returns, signaling a possible anticipation of growth among altcoins.
XRP's notable weekly decline, however, raises questions about its immediate future in the volatile market landscape. The cryptocurrency was hit hard by a massive hack affecting its co-founder Chris Larsen.
LINK's ascension
Chainlink's LINK token has hit a 22-month high at $18, signaling an end to a three-month period of consolidation and potentially setting the stage for a sustained upward trend.
Market analysts have underscored LINK's strength, especially as it outperforms major players like Bitcoin and Ethereum.
Chainlink t has also emerged as a critical piece of the crypto infrastructure, linking blockchains with essential external data through its oracles.
This vital role underlines its potential to grow even further, with some analysts predicting a market value for tokenized assets at $16 trillion by 2030.
Chainlink recently secured strategic integrations across platforms like Scroll.