Chainlink Down by 5% as Altcoins Collectively See Massive Decline
According to statistics from CoinMarketCap, Chainlink (LINK) has recorded a 5% drop in charge, bringing the altcoin’s 7-days consecutive losses to 10%, on the time of writing. Analysis from Santiment additionally notes that, interestingly, buyers had been nevertheless taking note of the asset earlier than the dip. “Three social dominance spikes regarded for LINK, indicating buyers had been making moves. The present day took place simply because the charge started out growing again.” Santiment defined in a tweet. The decline in asset prices has seen them fall further from their October high of $7.92
The broader altcoin market continues to be in a bloodbath
In August, CoinMarketCap also showed Link hitting $9, prompting analysts to speculate on a possible $10 price drop. However, Links continued to see a steady decline in transaction volume, bringing it back to its current levels. Similarly, other leading altcoins have seen notable price declines since the beginning of this week, ending the week in losses. Cardano (ADA) and Solana (SOL) are two of the biggest losers according to CoinMarketCap, while Ethereum (ETH) and Ripple (XRP) saw only small daily losses.
