- Chainlink (LINK) prices have flatlined despite investors holding great expectations for the digital asset in 2024.
- Bulls are holding out above key support positions as investors defend the development and network activity against negative price action.
Chainlink (LINK) investors are hoping for better days amidst faltering price action. Despite a positive start to the year, LINK has been on a decline, mirroring a wider trend by altcoins. For some investors, their view of LINK is that it is part of a long-term strategy with its short-term performance irrelevant and a mere distraction. For them, the discount prices offer a great chance to load up on more tokens.
As the token underperforms in what was expected to be a bullish year for a lot of cryptocurrencies, Crypto influencer Quinten Francois has discussed the recent hate shown on Chainlink (LINK). “I see a lot of hate on $LINK because it isn’t performing as expected. It’s always the same in crypto,” Quinten Francois noted. Painting a bullish outlook for the token, the analyst highlighted the three steps the cryptocurrencies go through.
1) hate on coins because they underperform
2) the coins melt faces in the bull run
3) everybody is hyped and expected it because it was so obvious.
Investors have rallied behind the token, highlighting the real-world utility and fundamentals of the token and the underlying project. This is hugely influenced by the determination shown by the development team behind the project. Based on this, the investors believe that the token is a great catch for long-term profits.
Earlier this week, Chainlink celebrated VodafoneGroup as one of the many world-class infrastructure providers bringing secure off-chain data and computation to the Chainlink Network as a node operator. Vodafone which has over 350 million customers, is a key partner that can help accelerate the adoption of the network in the future.
.@VodafoneGroup is one of the many world-class infrastructure providers bringing secure offchain data and computation to the Chainlink Network as a node operator.
Already relied upon by more than 350M+ customers, 160M+ IoT devices, and 7M+ organizations across the globe,… pic.twitter.com/LtU3B0j5pd
— Chainlink (@chainlink) January 5, 2024
Chainlink (LINK) Price Change
Chainlink (LINK) has in the last 24 hours posted a marginal gain of less than 1%. This gain helps reduce the weekly loss by nearly 10%. At the time of press, the altcoin is trading at $13.79 with a market cap of $7.8 billion which has seen it ranked as the 14th most valuable cryptocurrency.
With an all-time high of $52.70 reached about two years ago, investors remain confident that the digital asset will revisit this high in the next bull market. At current prices, the digital asset has lost around 72%. Of note, since its launch about 6 years ago, the gem has gained more than 9,000% a return most buyers getting involved right now would enjoy soon.
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