We’ve just added Chainlink (LINKUSD) on SimpleFX. The ethereum-based altcoin is one of the best-performing crypto assets this 2020, grabbing the sixth spot in the largest cryptos ranking by market capitalization last month. Due to its enormous prize rally this year (up by 588% YTD), Chainlink made a huge following in the crypto space.
Chainlink is a decentralized network that connects smart contracts on the blockchain to external applications, bridging smart contracts to real-world businesses. The Chainlink Network delivers tamperproof and quality smart contracts, and supports further the evolution of decentralized finance (DeFi).
LINK’s first major surge happened on August 8 after gaining 25% within 24 hours. This spike is due to a squeeze of short contracts in the futures market. After 8 days, it recorded an all-time high of $20, with LINK’s daily active addresses hitting 15,600. However, it seemed to meet a strong wall at the $20 resistance and started retracing to $12 as of writing. LINK’s robust performance last month amounted to a 99.61% jump in price. The gushing interest in DeFi is one of the major factors boosting LINK’s price.
This year, LINK is one of the best performing altcoins with a 588% gain and hovering around $12 per coin. LINKUSD shows bullish signals as it climbs over the 50-, 100-, and 200-day SMA lines.
$1000 SimpleFX Chainlink Promo
SimpleFX would like to welcome LINK traders with our $1000 Chainlink Promo. On September 10–24, 2020, clients with the biggest single deposit in LINK and those with the highest trading volumes on LINKUSD can grab a reward from a $1000 prize pool. It’s a great time to take advantage of the dips while earning rewards!
Read the promo details on our blog.