Chainlink (LINK) belongs to the 93% of altcoins that saw a significant price decline in September. But in the case of LINK, it wasn’t just a mere correction that knocked its value down by some 20%; the 7th cryptocurrency had literally crashed by 64% in five weeks, having gone from the all-time high at $20 to September low at $7.25 - a massive disappointment for those who pinned great hopes on the DeFi token that serves to the oracle network.
Nevertheless, its profitability on the macro scale remains positive, with 338% to the upside against USD, 217.1% being the result in the Bitcoin market, whereas Ethereum was left behind by 115.3%. LINK’s historical ROI stays above 6,800%, so even the latest decimation of gains shouldn’t have unnerved long-term holders.
Chainlink’s current price stands at $10.86 upon making a slight 1.6% progress to the upside in the past 24 hours. The coin’s market capitalization had also undergone a significant meltdown from $6,6 billion at the top of the rally to $3 billion at the presumed correction bottom, but then made a slight recovery to the present $3,8 billion.
YTD Chainlink chart