Chainlink Trading Volume Becomes Rival to Bitcoin, Could Beat Ethereum Likes

Chainlink Volume Becomes Rival to Bitcoin, Could Beat Ethereum Likes

Chainlink trading volume beats every other digital currency except Bitcoin and could beat the likes of Ethereum, according to a report by Messari, a crypto-currency market data provider. In terms of trading volume, Chainlink has grown into becoming the biggest rival for Bitcoin, the world’s most valuable asset.

Chainlink Trading Volume on the Rise

After Bitcoin, this altcoin showed a significant amount of strength. Chainlink had crushed several other digital currencies as of last year to rank as the top-performing crypto-asset. This is probably why many retail investors are drawn to the crypto.

Chainlink’s volume of trading currently outperforms that of Ethereum and Ripple across several crypto exchanges, according to Messari. Despite the fact that altcoin is ranked by market value as the 11th biggest cryptocurrency, it is second to Bitcoin according to their total volume of trading.

After the April 13 bloodbath, Chainlink trading volume still reached over $130 million USD, while Ethereum hit only $118 million USD as the second-largest crypt. Chainlink nearly doubled Ripple’s trading volume, which reached only $77 million USD.

Bitcoin trading volume reached more than one billion USD, more than doubling that of Chainlink. Many are optimistic about Chainlink with feelings that only with its first-mover advantage, Bitcoin leads the pace.

Chainlink Could Beat Ethereum Likes

The fact that Chainlink could beat Ethereum’s likes indicates its popularity among crypto-currency retailers, including investors. Maybe, their attention has been drawn to the substantial returns Chainlink has made for a long time.

Chainlink started with good strength as of last year, which it continued to maintain by more than 1,400 percent increase to the end of the year. This has earned it the highest performing altcoin.

Though the coronavirus outbreak affected the altcoin, which hit the entire market. Chainlink reportedly dropped to one dollar per coin by at least 70 percent to trade. In some exchanges, the altcoin also saw massive falls; however, it was still able to recover from the crash.

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Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.