Why LINK is pumping so hardly?

[Em00n01]

Still i can remember when i saw LINK in April/June it was almost $4.2 . But recently i saw it's pumping hardly to $18+! What is reason behind this pump?

[Jating]

They have a lot of partnership going on in the last couple of months, like this Plasm, a smart contract protocol built on Polkadot’s Substrate framework, has integrated Chainlink’s (LINK) price feeds.

And then one of their early adopter, Michael Anderson, predicted this meteoric rise, “Anything over twenty five dollars I think is not unreasonable to assume”.

And then of course the DeFi hype is still in the air, and as ChainLink is a decentralised oracle network which gives real time data to smart contracts, most like most DeFi are using them for live feed.

[Mulann2]

I just checked it and it is at $19+ now, aside from 2017 were there was a major pump in price, i have never seen such a pump before, what is making this coin to pump none stop is what i can't understand, from the look of things, link doesn't need btc to rise before pumping, i really envy investors who bought from very low price.

[pathapoddo]

Link is one of the top leading Defi projects now. The are pumping so aggressively in this Pandemic. The first reason I would say that it is pumping because it's a Defi coin. We all know the recent crage about defi projects an we are watching the market of defi is pumping day by day.

Another reason is the team of Chainlink is working so hardly and they are so active. Doing so many partnerships with some big companies which gave them a price boost.

[javainn]

I am also looking for an answer why the link can fly high quickly, there are people who claim that the link is a waste pump and it is a fraud. I don't even believe that statement. I just want to hear answers from competent people and their sources

[jossiel]

The rankings that it has also helped. Searching on coinmarketcap has categories for Defi and it's on the top of the rankings, no. 1. That's a factor for most investors to look at, whichever is at the top, that's where they'll invest.

https://coinmarketcap.com/defi/

[CaVO32]

The rankings that it has also helped. Searching on coinmarketcap has categories for Defi and it's on the top of the rankings, no. 1. That's a factor for most investors to look at, whichever is at the top, that's where they'll invest.

https://coinmarketcap.com/defi/

And since they are the top DeFi project at the moment, people have more trust on an established DeFi network as compared to other DeFi projects that are suddenly shooting up everywhere. If you want to invest on a better market, of course, you want to spend it on a project with good foundation. And since the hype is still on for DeFi, the Chainlink team is using this opportunity to attract more investors by giving their followers about updates regarding partnerships and other developmental progress. Seems that the time of Chainlink has come. But still if you are an investor, you need to be prepared for what may happen in the market.

But on a side note, look at the Chainlink trading chart. Very impressive, right? Lucky for those who bought this last month, they are already enjoying their profits.

[Nellayar]

Still i can remember when i saw LINK in April/June it was almost $4.2 . But recently i saw it's pumping hardly to $18+! What is reason behind this pump?

Because link has good future when it comes in technology. In addition, there is the trend of defi projects thing. I also saw how chainlink and band protocol became 15 dollars this past few days. And I really regret because I bought this two coin last few weeks but sold it only in a small profit. We don`t really predict when time comes if the coin that we hold or buy will becomes a gem.

[jossiel]

The rankings that it has also helped. Searching on coinmarketcap has categories for Defi and it's on the top of the rankings, no. 1. That's a factor for most investors to look at, whichever is at the top, that's where they'll invest.

https://coinmarketcap.com/defi/

And since they are the top DeFi project at the moment, people have more trust on an established DeFi network as compared to other DeFi projects that are suddenly shooting up everywhere. If you want to invest on a better market, of course, you want to spend it on a project with good foundation. And since the hype is still on for DeFi, the Chainlink team is using this opportunity to attract more investors by giving their followers about updates regarding partnerships and other developmental progress. Seems that the time of Chainlink has come. But still if you are an investor, you need to be prepared for what may happen in the market.

But on a side note, look at the Chainlink trading chart. Very impressive, right? Lucky for those who bought this last month, they are already enjoying their profits.

Can't be denied that they are on the peak but it won't be long that peak will be gone. Those investors that have bought it at the bottom or before the take off, they made it.

I'm not scaring but everything that has gone up, must come down so start filling your bags some profits and wait until a correction comes. It is experiencing all-time high. Well, good job and congratulations to Link holders/investors.

[Pgilbert]

Damn Chainlink has a bigger market cap than Bitcoin Cash SICK

[Fakhrulenclix]

Still i can remember when i saw LINK in April/June it was almost $4.2 . But recently i saw it's pumping hardly to $18+! What is reason behind this pump?

I remember about thread talking about link pumped and many people not recommended this coin because already pumped and of course will going down, but now, hit $19 Damn. Cryptocurrency is unpredictable. I also tried to find the reason behind this, but i got nothing.
I just want to say congrats to link holders

[cafetools]

LINK is just warming up, we will see a $30 link by end of next week. Probably pump to $21 today.

[didzi]

The rankings that it has also helped. Searching on coinmarketcap has categories for Defi and it's on the top of the rankings, no. 1. That's a factor for most investors to look at, whichever is at the top, that's where they'll invest.

https://coinmarketcap.com/defi/

yes, just like the first cryptocurrency project like bitcoin right ? wich mean a lot of people will invest in bitcoin, because this the TOP cryptocurrency
also ethereum as the first and the best altcoins with smart contracts,, now chainlink as the best defi type project, thats a reasonable reason why the price of chainlink shoot up for now

[Kocret02]

The link has shown such a good price for some time, I am still worried whether the upward trend of this link will last long or only euphoric moments will last for a short time

[Perfect35]

The link has shown such a good price for some time, I am still worried whether the upward trend of this link will last long or only euphoric moments will last for a short time

That is my main concern too. It is actually very difficult to fill one's bag at the price it is now, expect one wants to risk it. The best would be that Fuddists should not have their way and for Chainlink not to be faulted by a strong competitor.

[dunfida]

Still i can remember when i saw LINK in April/June it was almost $4.2 . But recently i saw it's pumping hardly to $18+! What is reason behind this pump?

I saw that you are already a 3 year old member of this forum.Are you still got surprised on whats happening into those coins that do suddenly pumped? This isnt something new where price can shoot up without even knowing on whats the reason specially if the entire market is on that price increase rally then you can anticipate that situations like this are typical stuffs but
you can read up something that do correlates its its recent rise: https://cointelegraph.com/news/3-key-on-chain-metrics-may-explain-chainlinks-meteoric-rise
Good thing for those people who do able to buy on pre-pump.

[NeuroticFish]

The link has shown such a good price for some time, I am still worried whether the upward trend of this link will last long or only euphoric moments will last for a short time

Nicely said. I also believe it's just "an euphoric moment". Twitter is suddenly full of posts on Link, so I expect somebody also having an advertising campaign for it to (artificially) create hype.

On the other hand, there are other altcoins too that were dormant or doing bad since 2017/2018 and now they are blooming again... so I can't tell for sure. Maybe altcoin season did really start?

[Cnut237]

Maybe altcoin season did really start?

I think this was all driven by ETH's huge rise. After ETH started building up in price, other alts then followed. And after this, BTC joined in to finally push and hold above the $10k threshold.

The two reasons for ETH's sudden rise as far as I can see were a) the imminent arrival of 2.0 and staking, and b) Some FOMO over DeFi.
The second of these I think is the reason that ChainLink has risen so much. The FOMO is such that we will surely enter bubble territory sooner or later, if we haven't already. You just have to mention 'DeFi', and people get excited. Very reminiscent of people mentioning 'ICO' back in 2017.

[NeuroticFish]

b) Some FOMO over DeFi.

I've seen altcoin not related to ETH (actually one of the competitors) also rising unexpectedly well. I also "blame" DeFi. And I also fear it's an artificial hype and it may end up like the ICO "era".

[Gorosden]

Link announced strong partnerships weeks ago and also Oracle is well recognized this days apart from the DeFi success that's currently making many crypto projects booming, i failed to believe that LINK is the only project that will be this bullish, I have my eye set on DIA DeFi project too