Ethereum

2024

Chainlink

Chainlink price is on the rise as this Oracle Service provider has surged 7% in the last 24 hours, pushing the value to the month high of $18.82 just a few hours ago. After a minor decline, the <a href="https://coingape.com/price/chainlink/" rel="noopener noreferrer nofollow">LINK price</a> is currently at $18.18 with a market cap of $10.6 Billion. Moreover, the altcoin is slightly bullish as the trading volume is up by 143%, indicating higher surges.
<a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/chainlink/"><img decoding="async" src="https://coingape.com/wp-content/uploads/2024/05/image-91.png" alt="Chainlink Price Analysis" width="670" height="379"></a>
In this blog, let us discuss why the Chainlink (LINK) price is booming today.
<h2 id="why-is-the-chainlink-link-price-rising">Why Is the Chainlink (LINK) Price Rising?</h2>
Chainlink is among the top 15 cryptocurrencies on the CoinmarketCap for its market capitalization. Moreover, the LINK price rose to as high as $21.75 earlier after the bullish market conditions in March, hinting at its price potential. But, what else is behind today’s price rally?
Mainly two things, one being&nbsp;Chainlink’s&nbsp;partnership with <a href="https://coingape.com/swift-plans-to-interlink-all-cbdcs-heres-why/" rel="noopener noreferrer nofollow">Swift payments</a> at the Consensys conference in Austin, Texas, happening this week. Secondly, the after-effects of <a href="https://coingape.com/education/ethereum-etf-approved-everything-you-need-to-know/" rel="noopener noreferrer nofollow">Ethereum ETF approval</a>.
This Consensys conference will be co-presented by Chainlink along with Swift, an international payments platform, and will be attended by 15,000+ people from 100+ countries.
<blockquote>
 15,000+ people from 100+ countries are attending <a rel="noopener noreferrer nofollow" href="https://twitter.com/consensus2024?ref_src=twsrc%5Etfw">@consensus2024</a>.
 We are excited to be on the ground with multiple events and experiences, including a <a rel="noopener noreferrer nofollow" href="https://twitter.com/SergeyNazarov?ref_src=twsrc%5Etfw">@SergeyNazarov</a> keynote and a fireside chat with Swift.
 Plan your schedule around everything Chainlink <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b07.png" alt="⬇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a rel="noopener noreferrer nofollow" href="https://t.co/pmL1CgeoJZ">https://t.co/pmL1CgeoJZ</a> <a rel="noopener noreferrer nofollow" href="https://t.co/WwSqUJsg2H">pic.twitter.com/WwSqUJsg2H</a>
 — Chainlink (@chainlink) <a rel="noopener noreferrer nofollow" href="https://twitter.com/chainlink/status/1795094355566276732?ref_src=twsrc%5Etfw">May 27, 2024</a>
</blockquote>
This collaboration has resulted in the LINK&nbsp;holder’s&nbsp;bullish reaction to the collaboration news. Moreover, the network completed 12 updates for the 6 Chainlink services on the nine blockchains, including the arbitrium, Ethereum, and many more.
<blockquote>
 ⬡ Chainlink Adoption Update ⬡
 There were 12 integrations of 6 <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a> services across 9 different chains: <a rel="noopener noreferrer nofollow" href="https://twitter.com/arbitrum?ref_src=twsrc%5Etfw">@arbitrum</a>, <a rel="noopener noreferrer nofollow" href="https://twitter.com/base?ref_src=twsrc%5Etfw">@base</a>, <a rel="noopener noreferrer nofollow" href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw">@ethereum</a>, <a rel="noopener noreferrer nofollow" href="https://twitter.com/LineaBuild?ref_src=twsrc%5Etfw">@LineaBuild</a>, <a rel="noopener noreferrer nofollow" href="https://twitter.com/MetisL2?ref_src=twsrc%5Etfw">@MetisL2</a>, <a rel="noopener noreferrer nofollow" href="https://twitter.com/Optimism?ref_src=twsrc%5Etfw">@Optimism</a>, <a rel="noopener noreferrer nofollow" href="https://twitter.com/0xPolygon?ref_src=twsrc%5Etfw">@0xPolygon</a>, <a rel="noopener noreferrer nofollow" href="https://twitter.com/Scroll_ZKP?ref_src=twsrc%5Etfw">@Scroll_ZKP</a>, and <a rel="noopener noreferrer nofollow" href="https://twitter.com/zksync?ref_src=twsrc%5Etfw">@zksync</a>.
 New integrations include <a rel="noopener noreferrer nofollow" href="https://twitter.com/DistribGallery?ref_src=twsrc%5Etfw">@DistribGallery</a>, <a rel="noopener noreferrer nofollow" href="https://twitter.com/EnoToken?ref_src=twsrc%5Etfw">@EnoToken</a>,… <a rel="noopener noreferrer nofollow" href="https://t.co/xXj0Y89txC">pic.twitter.com/xXj0Y89txC</a>
 — Chainlink (@chainlink) <a rel="noopener noreferrer nofollow" href="https://twitter.com/chainlink/status/1794794164564967440?ref_src=twsrc%5Etfw">May 26, 2024</a>
</blockquote>
Most importantly, the Ethereum ETF bullish rally has surged the demand for altcoins, including Chainlink.&nbsp;This&nbsp;has also opened opportunities for other ETFs to enter the market. As the Chainlink project co-founder <a href="https://coingape.com/education/sergey-nazarov/" rel="noopener noreferrer nofollow">Sergey Nazarov</a> said,
<blockquote>
 It’s&nbsp;really just the beginning. It is a sign of&nbsp;a very clear&nbsp;trend that not only Bitcoin,&nbsp;not only ETH, but&nbsp;many other tokens out in the world will end up getting their own ETFs at some point, allowing the larger global capital markets to interact with that financial product.
</blockquote>
<h2 id="chainlink-price-to-surge-300">Chainlink Price To Surge 300%</h2>
Chainlink has a long way to go, as the current surge is nothing compared to its highest gains. Being a part of the crypto industry for six years, LINK price has had its share of ups and downs, where the 2021 bull run made the token jump to its all-time high of $52.88, which is 65% higher than its current value.
However,&nbsp;that’s&nbsp;about to change as the analysts anticipated the Chainlink price to surge around 300% in the upcoming days. Michael Van de Poppe, one such analyst, has envisioned the Link price to surge by 150% to 300%. As per his analysis, Chainlink has crossed the crucial support level, and the bullish run is about to hit this altcoin.
<blockquote>
 <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a> woke up from the crucial area of support.
 Likely, there’s going to be continuation and the low is in.
 From this point, I wouldn’t be surprised with at 150-300% price increase. <a rel="noopener noreferrer nofollow" href="https://t.co/ulweEUpAYV">pic.twitter.com/ulweEUpAYV</a>
 — Michaël van de Poppe (@CryptoMichNL) <a rel="noopener noreferrer nofollow" href="https://twitter.com/CryptoMichNL/status/1795039747645346144?ref_src=twsrc%5Etfw">May 27, 2024</a>
</blockquote>
It has to see how the Chainlink price will move ahead under the assumption of the 300% surge, as the cryptocurrency is only one-third of its best-performing values.
&nbsp;
The post <a href="https://coingape.com/trending/why-is-chainlink-link-price-booming-today/" rel="noopener noreferrer nofollow">Why Is&nbsp;Chainlink (LINK) Price Booming Today?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Why Is Chainlink (LINK) Price Booming Today?

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