Chainlink Sets Historic High, Now Closer To $5

The Bitcoin and altcoin news and rumors are showing a lot of gains on the market. While Bitcoin reclaims $9,000 in a new rise, Chainlink sets historic high moment and the LINK cryptocurrency is now closer to the $5 mark than ever before.

In fact, we could see the LINK crypto token which is the eleventh largest cryptocurrency climbing 27% this week, establishing an all-time high of $4.92. The coin performed similarly well against Bitcoin too, rising by more than 22% in a couple of days to 55,683 sats as it became one of the leading risk/reward assets in both the dollar and the crypto denominated markets.

Elsewhere, we could see other cryptocurrencies being pressured by the market risks especially with the rise of the Coronavirus epidemic. The leading cryptocurrency Bitcoin rebounded by 2.67% yesterday only to gain new 5% and prove that bulls are still here. For traders, Chainlink sets a record profit margin this week and is definitely the altcoin to watch out for.

The other crypto news show that Ethereum’s Ether (ETH) and Ripple’s XRP each surged by 3.50% and 3% respectively, helping the market cap come to a new level at $261 billion. Meanwhile, we could also see the Bitcoin hash rate achieve new high at 150 quintillion hashes per second (H/s) which is a new record high, too.

As Chainlink sets a new record in the Chainlink coin news, we could see a rumor that the blockchain platform is going to make a “huge announcement.” The community members claimed that Chainlink’s foundational team is closed to signing a big deal with a company whose initials start with the letter “M”. This left the social media world open to different interpretations, and some claimed that M stood for Microsoft and that a potential partnership between Chainlink and Microsoft might be on its way.

little birdie told junkie there is a HUGE anouncement for $link tomorrow and it begins with 'M' #Chainlink

— ChainLinkJunkie (@Chainlinkjunkie) March 3, 2020

As Chainlink sets a new price record, the amusing nature of its fundamental made the intraday price rally appear ‘unsustainable’ and left the token under the stress of profit taking, wherein traders decide to exit their long positions for an interim gain.

One of the bullish signs for LINK read:

“If we get big news tomorrow, #Chainlink will increase just like it did in June from the Google announcement,” tweeted a community member. “It would be unreasonable not to see $LINK hit $8-10 if this announcement is similar.”