Chainlink Emerges as Top Large-Cap RWA Play After 50% Fortnightly Surge
Main Idea
Chainlink (LINK) has shown significant growth recently, driven by its dominant position in the oracle market and the expanding tokenized real-world assets (RWA) sector, with analysts highlighting its potential for further gains.
Key Points
1. Chainlink (LINK) has surged nearly as much as Ether over the past 30 days, with a 50% price increase since the beginning of the month.
2. The tokenized RWA sector, now worth over $25 billion, is a key driver of Chainlink's growth, with institutions like BlackRock pushing for tokenization.
3. Chainlink holds an 84% market share in the oracle market on Ethereum and 68% across all of DeFi, positioning it as a critical infrastructure provider.
4. Analysts suggest LINK could reach three-figure price targets, though it remains 55% below its May 2021 all-time high of $52.70.
5. On-chain activity for LINK has surged, indicating increased adoption and usage.
Description
Chainlink (LINK) has been the quiet achiever in the altcoin world, surging almost as much as Ether over the past 30 days. “LINK might be the most obvious large-cap play for this cycle, yet most people will miss it,” opined crypto analyst Miles Deutscher on Thursday. Chainlink is the number one winner from the institutionalization of crypto and the explosive growth of stablecoins, tokenization, and real-world assets (RWAs), he added. The network is primely positioned for the multitrillion-dollar ...
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