Tag Archives: Chainlink

Binance Launches ChainLink LINK Quarterly Futures Before Ethereum’s

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Binance Launches ChainLink (LINK) Quarterly Futures, Before Ethereum’s

LINK quarterly futures have been launched on Binance before Ethereum's.

John P. Njui   •   CHAINLINK (LINK) NEWS • BINANCE (BNB) NEWS   •   JULY 21, 2020

Summary:

  • The popularity of ChainLink has resulted in Binance launching a quarterly LINK Futures contract.
  • LINK quarterly futures have been listed before the Ethereum’s.
  • This move shows that ChainLink (LINK) is a fan favorite for crypto traders.
  • LINK had earlier dropped below $7 and is now trading at $7.63.

The crypto exchange of Binance has announced that it will be launching ChainLink (LINK) a quarterly futures contract. Trading of the contract will commence tomorrow, July 22nd, at 7 am UTC. Traders can use a maximum of 75x leverage once the LINK quarterly futures contract goes live. The LINK quarterly contract will expire September 25th, 2020.

One fact that stands out is that the LINK based quarterly contract has been launched before an Ethereum one on the exchange. At the time of writing this, there are quarterly contracts for two digital assets: Bitcoin (BTC) and Cardano (ADA). A LINK based quarterly contract becomes the third.

ChainLink’s High Trade Volume Could be Why a LINK Quarterly Contract was Offered before Ethereum’s

The popularity of ChainLink (LINK) amongst crypto traders could be one reason that Binance chose to list its quarterly contract before that of Ethereum. Last week, LINK’s daily trade volume briefly eclipsed that of Ethereum particularly around the time ChainLink hit its new all-time high value of $8.92.

LINK Continues to Shake Off Malicious Zeus Capital Report

LINK’s daily trade volume is still high despite the emergence of last week’s malicious report by Zeus-Capital that claimed that the ChainLink project was pure vaporware. The report also predicted that ChainLink’s value in the crypto markets would eventually fall by 99% to $0.07.

However, crypto twitter has since debunked the report which has been pulled down from the Zeus-Capital website. At the time of writing this, the malicious report has been linked to another crypto project as seen in the following tweet.

Brief Technical Analysis of LINK/USDT


(Click image for larger view)

LINK has benefited positively from Bitcoin’s surge above $9,300. A brief look at the 6-hour LINK/USDT chart reveals that the digital asset experienced a bounce around the 50 MA. However, LINK/USDT still looks like it is in the midst of a pullback due to the impressive push earlier this month to its new all-time high of $8.92.

Therefore, placing a long on LINK at its current value of $7.63 might be a gamble given the fact that LINK is not as influenced by Bitcoin’s price action. This is the reason LINK was pumping in the markets despite Bitcoin being relatively flat. Therefore, caution is advised when trading LINK as Bitcoin pumps.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

ChainLink LINK Trade Volume Breaks Records on Crypto Exchanges

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ChainLink (LINK) Trade Volume Breaks Records on Crypto Exchanges

John P. Njui   •   CHAINLINK (LINK) NEWS   •   July 16, 2020

Summary:

  • The daily trade volume of ChainLink (LINK) on crypto exchanges has been on a steady climb.
  • LINK was the second most traded digital asset on the Gemini exchange edging out Ethereum.
  • A similar feat was achieved on Kraken by ChainLink and for a second day.
  • The LINK perpetual contract on FTX was the highest traded contract ahead of Bitcoin’s.
  • LINK’s rise in the crypto markets has been temporarily halted by the Twitter hack.

For the past two weeks, ChainLink (LINK) has been the talk of the town with the digital asset breaking several all-time high values with the most recent being at $8.74 according to Coinmarketcap. The impressive market performance of LINK has led to the digital asset breaking several trade volume records on multiple exchanges.

LINK Beats Ethereum in Trade Volume on Gemini and Kraken

To begin with, ChainLink (LINK) had an incredible day, in terms of trade volume, on the Gemini exchange. According to Cameron Winklevoss, LINK’s trade volume on the Gemini exchange surpassed that of Ethereum in the last 24 hours. Below is the tweet by Mr. Winklevoss marking this milestone.

Additionally, LINK achieved a similar feat on the Kraken crypto exchange. In this case, it was the second day that LINK had edged out Ethereum in terms of 24-hour trade volume. In their daily market report for July 16, the team at Kraken further highlighted that LINK’s trade volume has been on a steady increase for quite some time.

LINK beat out Ethereum for the second straight day in terms of total trading volume. LINK/USD has had the largest increase in week-over-week and month-over-month trading volume.

LINK Perpetual Contract the Most Traded on FTX

Furthermore, LINK has also broken records on the FTX crypto exchange by surpassing Bitcoin as the most traded perpetual contract on the platform. This feat was highlighted by the CEO of FTX, Sam Bankman-Fried (SBF), via the following Tweet.

LINK Briefly Shaken by the Twitter Hack

A brief glance at Coinmarketcap once again reveals that ChainLink (LINK) is still ranked 8th ahead of Litecoin (LTC) and Binance Coin (BNB). However, the value of the token seems to have been shaken by the Twitter hack. LINK’s journey up the ranks has suffered a brief setback due to the Twitter hack that has had a negative effect on all digital assets.

In the case of LINK, the digital asset briefly dropped below $8 to $7.92 on Binance. However, LINK has since reclaimed some of its bullish momentum and is trading at $8.56 at the time of writing this.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

ChainLink’s High Network Activity Keeps Pushing LINK Higher

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ChainLink’s High Network Activity Keeps Pushing LINK Higher

LINK just hit a new all-time high of $6.76 today, July 12th.

John P. Njui   •   CHAINLINK (LINK) NEWS   •   July 12, 2020

Quick take:

  • ChainLink (LINK) has hit a new all-time high value of $6.85.
  • The high network activity of LINK is one reason the token keeps gaining in the crypto markets.
  • An earlier prediction had put LINK at $8 by December 2020.

ChainLink (LINK) has hit a new milestone today in the form of an all-time high value. At the time of writing this, LINK broke the $6.57 resistance zone to claim the new all-time high value of $6.85 – Binance rate.

High Network Activity Keeps Pushing LINK Higher

The success of LINK comes as no surprise as the activity on the ChainLink network has continued to grow since the beginning of 2020. The daily active addresses on the LINK network hit a new high of 9,335 on the 8th of July. The team at Santiment captured this achievement via the following tweet.

LINK Network Activity Provides Future Price Insights

The last time the activity on LINK was this high, was in June 2019 around the same time LINK hit an earlier all-time high of $4.80. Therefore, it can be concluded that network activity on the LINK network can be used to anticipate price movement as explained by Timothy Peterson and the team at Cane Island.

In a recent analysis of ChainLink, the team at Cane Island explained that LINK users grew by 17% per month and the future adoption of the ChainLink network would drive adoption of the token as well as its price. The analysis of LINK by the team at Cane Island also provided the following chart that predicts an $8 LINK by December 2020.


(Click on image for larger view)

Brief Technical Analysis of ChainLink (LINK)

To provide a clearer picture of the price movement of LINK since September 2017, we can zoom out a bit on the daily LINK/USDT chart courtesy of Tradingview. The chart (below) clearly illustrates how past LINK resistance levels have flipped to become major support levels on a macro view.


(Click on image for larger view)

Taking a historical look at the daily LINK/USD chart, the following can be concluded.

  • The January 2018 all-time high of $1.54 eventually turned into solid support as seen in September 2019 and during the Coronavirus crash of mid-March, 2020.
  • The July 2019 all-time high of $4.80 has been a serious resistance zone attempted before the crash of mid-March and could end up becoming the new support zone on a macro scale.
  • Trade volume is still in the green and the daily MACD is yet to show sights of exhaustion further pointing to LINK possibly breaking its new all-time high of $6.85.
  • MFI points to an overbought situation. Therefore, going long on LINK should be done with caution.

As with all analyses of ChainLink (LINK), stop losses and the use of low leverages is advised. Additionally, keeping an eye out for Bitcoin’s price movement will provide a measure of the fate of the crypto markets.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

As Bitcoin Remains in Bear Territory This Crypto is About to Rocket to Fresh Highs

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As Bitcoin Remains in Bear Territory, This Crypto is About to Rocket to Fresh Highs

            March 3, 2020

It has been a rocky past few weeks for the cryptocurrency markets, with Bitcoin plummeting from recent highs of $10,500 to lows of $8,400, leading most major cryptos to similarly see some intense bearishness.

There is one crypto that has been able to rally in the face of this market-wide selling pressure, however, with Chainlink setting fresh all-time highs against its Bitcoin trading pair.

This massive uptrend has led one top analyst to note that LINK’s strength against its BTC trading pair is likely to lead it significantly higher against USD in the days and weeks ahead.

Bitcoin Remains Stuck Beneath $9,000 as Analysts Eye Further Downside

After incurring a fleeting surge up to highs of $8,950 earlier this morning, Bitcoin faced a swift rejection at this level that subsequently led the cryptocurrency to plummet back towards $8,700 – which is where it has been hovering at over the past few days.

Today’s early morning rally came about in tandem with an upsurge seen by Gold and the global equities markets, with the price action seeming to further confirm the cryptocurrency’s status as a risk-on investment.

The recent rejection also confirms that the crypto is weak at the moment, and it may suggest that it will see further downside before it finds enough support to catalyze a sustainable uptrend.

TraderXO, a prominent cryptocurrency analyst on Twitter, explained in a recent tweet that he believes BTC may see some further near-term upside, but that this will ultimately be followed by a sharp decline to lows of $7,900.

“BTC — swing short setup. Will enter on the rejection,” he noted while pointing to the levels seen on the chart below.

This Crypto Could Set Fresh All-Time Highs Despite BTC’s Weakness

Chainlink’s insane rally seen throughout 2019 and 2020 did slow down last week when the markets faced an intense selloff, but it has been able to significantly outperform Bitcoin and is now about to attack its previously established highs.

Crypto Michaël, a prominent cryptocurrency trader and analyst, explained in a recent tweet that a break above $4.30 could induce a rapid surge to, or past, its all-time highs at $4.80.

“And testing the highs here. Breakout of $4.30 should induce a test of the $4.60-4.70 level next,” he noted.

Because the crypto is currently holding above $4.30 despite Bitcoin’s current weakness, it does seem as though Chainlink’s strength will soon lead it significantly higher.

Featured image from Shutterstock.

Original article posted on the NewsBTC.com site, by Cole Petersen.

Article re-posted on Markethive by Jeffrey Sloe