Insane Altseason! Chainlink (LINK) Hits New All-time High $1.5B Market Cap

It is no longer news that most altcoins are rallying harder than Bitcoin (BTC) in the latest crypto market bull run. In the same manner, one could expect a few altcoins to make new all-time highs, with Chainlink (LINK) being the first among the top twenty cryptocurrencies to blow off the top.

At the time of writing this report, Chainlink (LINK) was trading at $4.44 per coin with a market cap well above $1.5 billion. The new price beats the previous all-time high record set by the altcoin when it traded for as high as $3.90 towards the end of June 2019.

Meanwhile, this is also not the first time that the altcoin has enjoyed a stellar period, gaining over 100% between September 2019 to November of the same year.

What is Chainlink About?

Chainlink is a decentralized oracle network that connects blockchain-based smart contracts to external data, payment networks, and various real-world events. It is known to have a secure infrastructure that allows smart contracts to link to APIs to communicate with and obtain data from external sources. 

According to its website, the Chainlink network can be used while writing complex smart contracts – as it provides “reliable, tamper-proof” inputs and outputs. As noted by its developers, Chainlink’s secure connectivity features are compatible with most blockchains.

Altcoins Rallying Hard

Aside from Chainlink, a few other altcoins, more notably include Ether (ETH) and Tezos (XTZ) has continued to climb on the day with the latter seeing double-digit gains yet again. If the trend continues, the Tezos (XTZ) is likely the next to beat its previous all-time high record which currently stands at $4.21 set in early July 2019 according to CoinMarketCap.

At the time of writing, XTZ is up by 13% in the last 24-hours trading for $3.52 per coin with a market of $2.44 billion. ETH, on the other hand, is up by 7% with a price of $286 and a market cap of $31.4 billion.