Chainlink (LINK) And Cronos (CRO) Post Positive Moves Amidst Market Uncertainty
30 Septembre 2022 - 03:45AM
NEWSBTC
Chainlink (LINK) and Cronos (CRO) have recently enjoyed positive
price movements, despite the market’s uncertainty over
cryptocurrencies. Both tokens increased around15% from their low
point 7 days back. The recent gains show that LINK and CRO are
still holding strong as they continue to rank top 50 based on
market cap. The two tokens also maintained a high trading volume
throughout the last seven days. Related Reading: Bitcoin And The
Golden Ratio Bottom | BTCUSD Analysis September 29, 2022 Upward
Trends Amidst Market Uncertainty The entire crypto market still
suffers from the recent bearish trend. However, LINK and CRO
managed to maintain an upward movement amid investors’ concerns
about the future of cryptocurrency markets. In fact, LINK has been
one of the best-performing altcoins this week. It gained over 21%
since last Thursday, reaching a high of $8.46 yesterday. This is
not surprising considering the token’s performance in the last 30
days. LINK was able to gain around 16% this month alone. We can’t
say the same for CRONOS’ 30-day performance. However, it did manage
to move upwards by 16.9% during the past seven days. Its current
value stands at $0.110, which is up from its lowest point of
$0.105. Reasons For LINK’s Positive Moves A recent tweet from
Santiment suggested that many investors opted to unload LINK
holdings they purchased during a price drop. Yesterday, LINK
reached a local high of $8.46, providing an opportunity for several
market participants to benefit. The number of LINK transactions was
four times higher than expected, according to the Santiment
analytics team. In another tweet from Santiment, LINK
stakeholder activity peaked on September 28. Despite the general
bearishness in the cryptocurrency market, this helped LINK break
the $8 threshold and begin a period of growth. The increase led
Santiment analysts to conclude that LINK has been “decoupling” from
other cryptos in the last 10 days. The coin’s price, however, was
unable to maintain the new high. According to CoinMarketCap, LINK
has dropped over 0.22% in the last 24 hours to $7.89 at the time of
writing. Social Engagement Responsible For CRO’s Rise The recent
week was a breakthrough one for CRO. According to statistics from
the cryptocurrency social analytics company LunarCrush, the altcoin
ranked 26th in terms of market capitalization. The previous week
has also seen a surge in CROs’ social engagement. As of September
23rd, its total number of social media mentions had risen by 40% to
37,000. Also, the value of CRO’s social engagements went up by 14%
over that time, reaching $61.6 million. The alt’s price rose by 13%
as of September 23rd, according to LunarCrush, because of the
increased interest in it on social media. Related Reading:
Bitcoin Sees Massive Decline In On-Chain Activity This past week
saw a 1% decrease in the average seven-day supply of CRO on
exchanges. To investors’ relief, this trend swung in their favor as
an uptick in the indicator would’ve signaled a rise in selling
pressure. As of the time of writing, CRO has gained 3.16% in value
over the previous week, as measured by volume traded on
CoinMarketCap. Featured image from Pixabay and chart from
TradingView.com
TRON (COIN:TRXUSD)
Graphique Historique de l'Action
De Oct 2023 à Nov 2023
TRON (COIN:TRXUSD)
Graphique Historique de l'Action
De Nov 2022 à Nov 2023