Chainlink Decreases More Than 7% Within 24 hours
Portfolio Pulse from Benzinga Insights
Chainlink's (CRYPTO: LINK) price has decreased by 7.23% in the last 24 hours, reaching $14.13, despite a 1.0% gain over the past week. The trading volume has decreased by 29.0%, and the circulating supply has slightly decreased by 0.57% to 556.85 million, which is 55.68% of the max supply. Chainlink's market cap is currently ranked #12 at $7.87 billion.
November 21, 2023 | 3:00 pm
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Chainlink (LINK) experienced a significant price drop of 7.23% in the past 24 hours, countering its recent upward trend. The decrease in trading volume and circulating supply may contribute to price volatility.
The sharp decrease in price over the past 24 hours, coupled with a significant drop in trading volume, suggests a negative short-term sentiment among investors. The reduction in circulating supply could add to the volatility, potentially leading to further price fluctuations. However, the market cap ranking indicates a strong position in the market, which may buffer against drastic long-term impacts.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100