Chainlink Up Nearly 1,000% Since 'Black Thursday' Crash

Chainlink's LINK token has surged nearly 1,000% over the past five months, and some are worried the market is beginning to overheat.

AccessTimeIconAug 18, 2020 at 10:02 a.m. UTC
Updated Sep 14, 2021 at 9:45 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

The rally in data oracle coin chainlink means it is now up nearly 1,000% from where it was when markets tumbled during the Black Thursday sell-off.

  • After bottoming at a near-year low of $1.79 on March 17, LINK tokens have been within a few cents of the $20 boundary in the past few days.
  • CoinGecko data shows LINK hit $19.54 in the past 24 hours, or 983% above its mid-March price. It hit its all-time high of $19.84 on Sunday.
  • The price rise has been accompanied by a surge in investor enthusiasm: Searches for chainlink on Google are at an all-time high and its trading volumes have soared past that of bitcoin's.
  • Media owner and latter-day trader David Portnoy has spurred the hype further after reportedly buying $50,000 worth of LINK at the weekend.
LINK price from the start of March.
LINK price from the start of March.
  • Some are concerned. Mati Greenspan, the founder of analyst firm Quantitative Economics, told CoinDesk the euphoria surrounding Chainlink was a worrying sign some investors may be getting in over their heads.
  • "Kids bragging on social media about getting their parents' and grandparents' retirement funds into this [is] usually a good sign that the top is near," he said.
  • At press time, LINK tokens were down 10%, trading just above $17.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



Read more about