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  • Market Cap: $2,520,889,752,425.30
  • 24h Vol: $71,965,351,431.04
  • BTC Dominance: 50.98%
What is the driving force behind LINK price as Chainlink dominates the market with a 61% weekly gain?

What is the driving force behind LINK price as Chainlink dominates the market with a 61% weekly gain?

LINK Price Surges Over 60%: What’s Behind the Move?

Summary:

– Chainlink’s LINK token has experienced a significant rally, surging by 61.3% from Oct. 20 to Oct. 25.

– This surge coincided with Bitcoin’s 23% gain during the same period, but LINK’s performance stands out compared to other altcoins.

– Several factors contribute to LINK’s outperformance, including the announcement of Chainlink’s upcoming native staking upgrade and its integration into various blockchain networks.

– The recent involvement of telecom giant Vodafone in the Chainlink network as a node operator has also boosted investor sentiment.

– Concerns related to the FTX and Alameda Research bankruptcy liquidation have subsided, further driving interest in LINK.

– The number of active addresses in the Chainlink network has reached an 11-month high.

Note: This article is for informational purposes only and does not constitute legal or investment advice.

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