Chainlink (LINK) has hit a significant low, falling below the crucial $10 support level for the first time since September 2023. This decline is attributed to persistent selling pressure in the market, as the publication provides the following information: .
Current Price of Chainlink
As of now, Chainlink's price stands at approximately $9.54, reflecting a notable drop over the past week. The recent trading sessions have been marked by substantial selloffs in both spot and futures markets, which have played a key role in driving the price down.
Market Capitalization and Trading Volume
Despite the downturn, Chainlink's market capitalization remains around $6.76 billion, with a 24-hour trading volume of about $1.31 billion. This suggests that trader activity continues, even as the asset faces downward pressure, indicating a complex market sentiment surrounding LINK.
Recently, the Chainlink Reserve has been aggressively accumulating LINK tokens, a move that contrasts with the current decline in Chainlink's price. For more details, see the full story here.
