LINK Volume Exceeds BTC On Coinbase

Plus more indications of the growing significance of DeFi

Happy Monday, Blockfolians

The Lede

So here’s a wild statistic. In a 24-hour period over the weekend, Chainlink’s LINK token was traded more than Bitcoin on the US’s biggest exchange Coinbase Pro.

Now, of course, worldwide across all exchanges, LINK’s volume during the same period was only 17% that of BTC.

Still, it’s a capstone number that reflects just what a monster run LINK is having:

  • ATH price of $14.38 hit on Sunday

  • +68% in the last seven days alone

  • All 184k+ LINK addresses are in profit

  • 700% gain year-to-date

What’s more, many point to DeFi - with its need for decentralized price oracles to make the smart contracts function - as the main driver, rather than just random 2017-esque speculation.

Whatever the case, LINK bagholders are about the happiest folks in cryptoland.

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That’s the number of users Uniswap added in July - another indicator of the growing important of DeFi

Final Thought

Great story!