Chainlink (LINK) pumps 26% in 6 days — Is there room for more? By Cointelegraph


Chainlink’s LINK (LINK) token experienced a remarkable 26% surge between Nov. 2 and 8, approaching $14, a level not seen since April 2022. This solidified its position as the 10th largest cryptocurrency (excluding stablecoins) by market capitalization.

While the price action is a welcome sight for traders, is Chainlink’s current valuation of $8.1 billion justified? Cointelegraph research shows that the impressive price surge is driven by expectations of real-world asset (RWA) tokenization and initial signs of institutional adoption. However, let’s delve deeper to assess the sustainability of the current rally.

Grayscale Chainlink Trust (GLNK) premium vs. LINK. Source: Coinglass
Chainlink 1-day transaction count. Source: Messari/Coin Metrics