Chainlink’s market data showed that the token was traded between $8.49 and $8.75 in the last 24 hours, and trading volume on major exchanges remained stable. The total market value of the asset is approximately 6.26 billion dollars, and the daily trading volume is around 300 million dollars. The amount of LINK in circulation is around 727 million and the maximum supply is recorded as one billion tokens.
Price history and market liquidity
Historical price data shows that today’s levels are far from Chainlink’s historical peak. LINK, which hit $52.88 in May 2021, has lost 80 percent above this peak at its current price. At the fully diluted valuation based on the maximum supply, the total market value of the token is determined as approximately $ 8.61 billion. While the market value ratio was at 0.77, the 24-hour trading volume was 4.78 percent of the asset’s total market value.
Looking at Chainlink’s price history, it appears that it was trading at $0.126 in September 2017. It has been observed that there has been a significant increase in value over the past period, especially with the expansion of the cryptocurrency market. Despite this, current pricing still lags well behind the previous record.
Similar ranges stand out in market statistics
In another data set, it is stated that LINK was traded close to the $ 8.69 level in the same period. The lowest price recorded in the relevant session was $ 8.63 and the highest was $ 8.74. According to this source, LINK’s market value is calculated as 6.32 billion dollars and its daily transaction volume is around 127 million dollars.
There is no noticeable difference in the total amount of tokens in circulation; The number of LINK in the market is approximately 727.1 million. All results prove that we are still quite far from the peak of approximately $52.70 recorded in May 2021. However, transaction volume and investor interest remain active.
Network updates and technical analysis
In the latest ecosystem update announced by Chainlink Labs; It was shared that 18 new integrations were added to the network and these connections were implemented through nine different services and 22 blockchain networks. Chainlink Labs is known in the industry for its decentralized data infrastructure and oracle solutions and regularly releases ecosystem updates.
The projects included in the statement include decentralized finance protocol Aave, cryptocurrency exchange Coinbase and derivatives platform GMX. In addition, it was reported that cross-chain integrations were also implemented in other blockchain services and financial systems.
“New integrations introduced to our network demonstrate greater adoption across multiple blockchain networks and services,” Chainlink Labs’ ecosystem update stated.
On the other hand, analyst Filgreat pointed out a possible pullback to the $8.40 and $8.20 levels in light of technical data. However, it was noted that a stop level of approximately $8.62 was followed at the position opening.
Recent updates in the ecosystem indicate that Chainlink continues its infrastructure work and technical integrations to achieve wider use in the blockchain field.
