Chainlink (LINK) Eyes Top 10 as Price Jumps 8%
2025-01-22
Category: None

Chainlink LINKUSD, previously struggling to keep up with market performance, is now showing upsides. LINK'S price increased by 8% during the day, positioning the asset toward the top 10 cryptocurrencies, per the CoinMarketCap hierarchy.
Chainlink trails Tron in market cap
Data from CoinMarketCap shows the price of LINK jumped 8% within the last 24 hours to trade at $25.75. LINK 1D Price Chart. Source: CoinMarketCap">
The ongoing surge has pushed the market capitalization to $16.4 billion. As a result. Chainklink trades as the 11th-largest cryptocurrency, trailing behind Tron TRXUSD, which has a market cap of $21.57 billion.
Notably, optimism for Chainlink is still low, as the declining trading volumes indicate. Within the last 24 hours, the trading volume decreased by 36% to $1.35 billion. Intriguingly, Tron's trading volume dropped by over 51% within the same time frame. 
This means a substantial uptick in Chainlink investors’ sentiment could help push LINK toward a top 10 crypto spot. Previous performance shows that Chainlink could easily increase activity and interest in the next few days.
U.Today reported that Chainlink's trading volume increased by 223% in just 24 hours. This spike helped to push the price by over 41%. 
Favorable Chainlink metrics
Favorable sentiment has largely influenced Chainlink's latest price action on the broader crypto market. 
The market has recovered from Monday's downtrend, demonstrating a 2.5% increase in the past day. Bitcoin BTCUSD, the flagship cryptocurrency, is up 3% on the daily chart, but it is still down from its all-time high of $105,276.
Network fundamentals, whale accumulation and partnerships also support the recent price surge in LINK. On Jan. 15, onchain crypto analyst Ali Martinez reported an accumulation of 1.35 million LINK by crypto whales.
Regarding partnerships, Ripple Labs recently integrated Chainlink's Price Feeds for its RLUSD stablecoin. The partnership has helped to strengthen Chainlink's leading role in decentralized finance (DeFi).