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In BTC Terms, Chainlink, Not Ripple (XRP), is the Top Performer in the last 24 Hours

Chainlink LINK

A critical analysis of the crypto market reveals that Chainlink (LINK) is the top performer in the top 30, not Ripple (XRP). In BTC terms—a base currency in which most coins and tokens are denominated in by cryptocurrency exchanges, XRP trails LINK in market performance in the last trading day. The ERC-20 token is up 4.46% against the resurgent BTC while XRP is down 4.51% in a day where it outperformed in the top 65 in USD terms.

Chainlink (LINK) Superb Performance Year-to-date

Chainlink (link) in the Top 20
Chainlink (link) in the Top 20

The third most valuable coin has been dominating headlines in the last day thanks in part to interesting fundamental developments and price recovery after a year that saw its fortunes plummet. Meanwhile, Chainlink remains diminutive, lodged at 18th in the market cap leaderboard, but is notably one of the top performers in the last year.

Chainlink (Link) market performance
Chainlink (Link) market performance

For perspective, Chainlink, an Oracle project that seeks to connect Ethereum smart contracts with real-world, vetted data, is up 423% against the USD, 168% versus the BTC, and 466% relative to ETH, year-to-date.

With a market cap of 91, 154.00 BTC and daily trading volumes of 9, 573.69 BTC, LINK’s ranks third in performance over the last trading week, adding 4% and trailing Monero—up 14%, Bitcoin SV—7% and Bitcoin Cash—5%. Interestingly, XRP is up a mere 1.5% over the same trading period.

Chain Link Price chart
Chain Link Price chart

Loopring and Chainlink Partnership

It’s an impressive feat and as a market leader in an under-explored smart contracting—oracle field, the coin appears to be in a position to carve out more gains, cementing its position as a dominant force, attracting top-tier partners in the process.

On Dec 27, 2019 Chainlink and Loopring announced a collaboration that would see the integration of several zkRollUp DEX protocols.

Geopolitical Tension Fuels Capital Flight

Aside from coin-specific fundamental events that have so buoyed XRP, the growing geopolitical tensions is forcing capital flight to safe haven.

This could explain the gradual strengthening of Bitcoin over the last couple of days following the death of the Iranian General, Qassem Soleimani, and the deviance from North Korea.

Bitcoin, which has been endorsed by the US SEC as a utility, is benefiting from the said influx as it acts as a safe haven thereby outperforming other digital assets.

The post In BTC Terms, Chainlink, Not Ripple (XRP), is the Top Performer in the last 24 Hours appeared first on Coingape.



Source: In BTC Terms, Chainlink, Not Ripple (XRP), is the Top Performer in the last 24 Hours

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