Chainlink and Polygon Experience Price Decline
Summary:
In recent days, Chainlink (LINK) and Polygon (MATIC) have both experienced significant price drops. Chainlink dropped 17% from its yearly peak of $17.16, while Polygon recorded a 3.83% decrease in the last 24 hours and an 8.50% decline over the past week. However, Chainlink’s integration of proprietary price feeds into the Polygon ZkEVM network has restored confidence among investors in the LINK token. Additionally, recent data from Polygon co-founder Sandeep Nailwal highlights the network’s peak performance, with 18 million transactions daily.
Introduction:
Chainlink and Polygon, two major altcoins, have recently seen a decline in their prices. Chainlink reached a yearly peak of $17.16 on December 9 but has since dropped to $14.25, marking a 17% decrease. Similarly, Polygon has recorded a 3.83% decrease in the last 24 hours and an 8.50% decline over the past week, currently trading at $0.779. However, the integration of Chainlink’s price feeds into the Polygon ZkEVM network has instilled confidence among investors in the LINK token.
Main Points:
- Chainlink experienced a 17% drop from its yearly peak of $17.16.
- Polygon recorded a 3.83% decrease in the last 24 hours and an 8.50% decline over the past week.
- New activities in fresh wallets have been observed, with significant amounts of LINK and MATIC being withdrawn.
- Chainlink’s integration of proprietary price feeds into the Polygon ZkEVM network has restored confidence among investors.
- Polygon’s proof-of-stake (PoS) network has recorded over 161 million inscriptions, surpassing competitors like BNB and Avalanche.
- The approval of a Bitcoin ETF and the halving of the Bitcoin block reward are expected to have a potential impact on the wider crypto market.
Conclusion:
Chainlink and Polygon have both experienced price declines in recent days. However, Chainlink’s integration of price feeds into the Polygon ZkEVM network has helped restore confidence among investors. Additionally, Polygon’s proof-of-stake network has seen impressive performance, with over 161 million inscriptions and 18 million transactions daily. The approval of a Bitcoin ETF and the halving of the Bitcoin block reward are also expected to impact the wider crypto market.