In the digital currency market, altcoins like Chainline (LINK) are creating a massive surge to new heights. This altcoin effort has crypto enthusiasts wondering if 2020 will be the year of the altcoin, surpassing Bitcoin in movement. For the first time in Chainlink’s history, this digital token broke over the $5 mark. Will this advancement force competing altcoins like Zilliqa and Tezos to do the same? Investors are hopeful for the future of 2020.
Chainlink’s New Benchmark High
LINK settled in at an astounding $5.72 USD, making a significant jump from the market crash prices in March. The steady momentum this digital token has shown over recent months gives investors hope that it will hit $7 soon. Crypto enthusiasts are hedging their bets that the next surge of LINK will produce upward swings between $7 and $7.25.
LINK’s recent boosted price jump gives investors a glimpse of a 4,164% increase since its introduction back in late 2018. Sitting as the 12th largest cryptocurrency worldwide, LINK has shown a 200% increase in year-to-date stats. These signs are considerably higher than that of the most popular token Bitcoin, showing only a modest 29% growth. Crypto enthusiasts are anticipating a new altcoin surge in 2020.
The Real Reason for LINK Price Increase
There is much speculation surrounding the price jump for LINK assets and other altcoins in the market. Crypto enthusiasts are looking to the increased use of Chainlink’s oracles in the decentralized finance space. With a heavy presence for in the DeFi space, projects have increased 5 times over in just this last year. It seems that Chainlink is in the right position to maintain substantial movement that investors are aiming for.
China’s national blockchain projects could have also had some positive influence on the LINK increase in the market. As China makes the choice to use Chainlink oracles with their national blockchain services network, exposure is immeasurable. Worldwide popularity helps give cryptocurrency the boost it needs to become a valuable digital asset.
How To Manage Your Altcoin Investments
Building your crypto portfolio can be challenging, so knowledge and diversity are essential for proper future growth. Many investors will utilize stable coins as well as altcoins like LINK to boost their position. Often popular coins like Bitcoin aren’t the only way to see results in crypto investments, but just a small part.
Crypto enthusiasts should explore the digital finance community with like-minded individuals to get a feel for altcoins and their movements. By arming yourself with background information, investors can make better choices to diversify their portfolio. Following market trends, examining historical movements and exploring predictions can mean the difference in a valuable investment selection.
If you haven’t explored Chainlink’s digital token yet, now could be the best time. Altcoins in the market are showing great promise for the last half of 2020, and investors are taking heed. Numerous digital exchange platforms carry the LINK asset, so be sure to check it out today for your portfolio.