Chainlink Falls By 5% While All Altcoins Experience Sharp Decline

Chainlink (LINK) has experienced a 5% price decline, according to statistics from CoinMarketCap, extending its 7-day losing streak to 10% at the time of writing.

Interestingly, traders were still paying attention to the asset prior to the dip, according to Santiment’s analysis.

“Three social dominance spikes appeared for Chainlink, indicating traders were making moves. The latest occurred just as the price began rising again.” Santiment explained in a tweet.

The downswing in the assets’ price has caused it to fall even further away from its October high of $7.92.

The larger altcoin market is still experiencing carnage – Chainlink

Link was over $9 in August, according to CoinMarketCap, leading analysts to predict a potential $10 price break. Link, however, continued to experience a steady fall in trading volume, which brought it to its present levels.

Similar to how other popular altcoins have experienced a noticeable price decline since the beginning of this week, they ended the week with losses. According to CoinMarketCap, Ethereum (ETH) and Ripple (XRP) have only had modest daily losses, while Cardano (ADA) and Solana (SOL) are two of the worst losers.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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