Chainlink Down More Than 16% Within 24 hours
Portfolio Pulse from Benzinga Insights
Chainlink (CRYPTO: LINK) has seen a significant drop of 16.62% in the last 24 hours, bringing its price down to $14.45. This decline is part of a broader negative trend over the past week, with an 8.0% decrease from $17.48. The trading volume for LINK has decreased by 9.0% over the same period, despite an increase in circulating supply by 0.88% to 587.10 million, which is 58.71% of its max supply. Currently, LINK's market cap ranks it 18th at $8.60 billion.
April 12, 2024 | 7:01 pm
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NEGATIVE IMPACT
Chainlink (LINK) experienced a significant price drop of 16.62% in the last 24 hours, with a weekly decline of 8.0%, indicating a strong negative trend.
The substantial price drop of Chainlink (LINK) over the past 24 hours and the past week suggests a bearish outlook in the short term. The decrease in trading volume alongside an increase in circulating supply could further pressure the price downward. Given these factors, the short-term impact on LINKUSD is likely negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100