Chainlink up by over 35% in a week, total crypto market cap peaks at $2.34T

Chainlink (LINK) is coming out on top of the most recent altcoin rally. The highly valuable cryptocurrency is making major gains, having crossed $15 billion in market cap today for the first time since May this year. In the last 24 hours, it has increased by more than 12%.

LINK becomes 12th biggest digital asset

Chainlink is the 12th biggest digital asset in the world in terms of market dominance. It is now higher than many other formidable assets with a market cap of $15.03 billion, including Bitcoin Cash (BCH), Litecoin (LTC), Terra (LUNA), Filecoin (FIL) and Polygon (MATIC).

Santiment, an on-chain and social metrics platform covering more than 2,000 cryptocurrencies, tweeted on the occasion:  

“Chainlink’s market value is up 119% in the past six weeks and gained another 12% in the past 24 hours. The rate of notable GitHub submissions from the LINK developers has been undeniably rising rapidly over time.”

In the beginning of this year, the price of Chainlink was around $11 per token. The digital asset began gaining popularity among institutional as well as retail investors during the first five months of the year. On May 10, LINK peaked at almost $52. Chainlink Trust was introduced by Grayscale, the world’s largest digital asset management firm, earlier this year.

Recent developments

At the moment, the powerful asset is trading near $34. Its value has increased by more than 150% after hitting a low of almost $13 at the end of July this year. Presently, its market dominance is around 0.6%.

Like Bitcoin, altcoins are making great gains in recent weeks. Over the past week, the price of Bitcoin increased by approximately 7%. Other altcoins that enjoy bullish sentiment are Polkadot, Solana, Ripple despite the SEC lawsuit, and Ethereum. Ethereum dropped by around 13% today, but it had increased by 25% over the past week. In that time frame, Polkadot and Solana increased by almost 40%.

$2.34T market cap

At present, the total market cap of digital currencies is around $2.34 trillion. This is up by over a trillion dollars since the end of July this year. Overall crypto asset market cap increased by almost $60 billion in the last 24 hours. The biggest and most valuable digital currencies in the world are Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Tether (USDT), and Binance Coin (BNB).  

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