Chainlink (LINK), one of the most valuable cryptocurrencies in the world, is taking a lead in the latest altcoin rally with substantial gains. Chainlink crossed the market cap of $15 billion on Monday for the first time since May 2021 after LINK jumped by over 12% within the last 24 hours.
In terms of market dominance, Chainlink is the world’s 12th largest digital asset. With a market cap of $15.03 billion, LINK is now more valuable than Bitcoin Cash (BCH), Litecoin (LTC), Terra (LUNA), Filecoin (FIL), and Polygon (MATIC).
“Chainlink’s market value is up 119% in the past six weeks and gained another 12% in the past 24 hours. The rate of notable GitHub submissions from the LINK developers has been undeniably rising rapidly over time,” Santiment highlighted.
Chainlink started 2021 at a price of approximately $11. The cryptocurrency gained popularity among retail and institutional investors during the first five months of 2021 as the price touched an all-time high of nearly $52 on 10 May. Earlier this year, Grayscale, the world’s largest digital asset management firm, introduced Chainlink Trust.
Currently, LINK is trading near $34. The cryptocurrency is up by more than 150% from the recent low of nearly $13 on 21 July 2021. The crypto market dominance of Chainlink stands at around 0.6%.
Chainlink and Crypto Rally
While the price of Bitcoin increased by approximately 7% in the last seven days, altcoins saw significant gains during the same period. In addition to Chainlink, Ethereum, XRP, Solana, and Polkadot also saw substantial bullish momentum. ETH increased by 25% in the last week while Solana and Polkadot jumped by nearly 40% during the same period.
The total market cap of digital currencies currently stands at around $2.34 trillion, up by more than $1.1 trillion since 21 July 2021. In the last 24 hours, the overall market capitalization of cryptocurrency assets jumped by nearly $60 billion. The world’s top 5 digital currencies include Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Binance Coin (BNB), and Tether (USDT).
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