Chainlink (LINK) Surged By 117% After Coinbase Pro And Coinbase Listed The Crypto


After it got listed on Coinbase Pro and Coinbase retail platforms, Chainlink (LINK), the digital token on the Chainlink network, skyrocketed by more than 117%. Chainlink blockchain focuses on linking smart contracts to external data sources.

More specifically, Chainlink (LINK) surged from $2.03 to $4.41 during the three days when the Coinbase listings got announced. That is known in the crypto world as the “Coinbase effect,” and it is a phenomenon when a cryptocurrency skyrockets immediately after its listing on the Coinbase crypto exchange platforms. The same already happened with Litecoin (LTC), Bitcoin Cash (BCH), Augur (REP), and EOS (EOS) when they got on Coinbase.

coinbase pro coinbase - Chainlink (LINK) Surged By 117% After Coinbase Pro And Coinbase Listed The Crypto

However, judging after the recent performance of Chainlink (LINK) in the cryptocurrency market, the so-called “Coinbase effect” seems to slow down for LINK digital token. The surge that Chainlink (LINK) experienced might also be because this crypto is a smaller altcoin, has lower trading volumes, and is not as available on significant exchanges with a broad presence across the US.

Chainlink (LINK) skyrocketed after Coinbase Pro and Coinbase Retail Listings, But It Now Decelerated

After only 8 hours after it got on Coinbase Pro, Chainlink (LINK) rose by 16.3 percent, while 12 hours after that, it reached a rise of about 24%. After Conibase retail platform listed Chainlink (LINK), the digital coin surged by 62.8 percent in total.

As we've already mentioned above, the so-called “Coinbase effect” seems to diminish for Chainlink (LINK). At the moment of this writing, LINK trades at $3.94, recording an increase of 14.45% in the last 24 hours. Besides, it seems that in terms of volume trading, Chainlink (LINK) helped Coinbase to become the third-largest LINK trader at the moment with a 24-hour volume of over $112 million.

Right now, Chainlink (LINK) is the 16th cryptocurrency in the market with a market capitalization of $1,378,829,462, at about $110 millions behind DASH that is on the 15th position in the crypto market.

Coins Mentioned

DASH

Dash

EOS

EOS

BTC

Bitcoin

Icon
1xBit

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
Nitrogen Sports

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
7bitcasino

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
BitStarz

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
FortuneJack

Lorem Ipsum is simply dummy text of the printing and typesetting industry....

Exchanges
Icon
CEX.IO

Read Review - Website

Icon
Coinbase

Read Review - Website

Icon
Binance

Read Review - Website

Casinos
Icon
7bitcasino

Read Review - Website

Icon
BitStarz

Read Review - Website

Icon
FortuneJack

Read Review - Website

Sportsbook
Icon
1xBit

Read Review - Website

Icon
Nitrogen Sports

Read Review - Website

Icon
SportBet.io

Read Review - Website

Trending news

thumbnail13 - Chainlink (LINK) Surged By 117% After Coinbase Pro And Coinbase Listed The Crypto

Trending news

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Top Sportsbook
Icon
1xBit

4.03

Read Review - Website

Icon
Nitrogen Sports

4.73

Read Review - Website

Icon
SportBet.io

4.60

Read Review - Website

Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

1672 Articles
7255 Followers