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Cryptocurrency Report.

One Cryptocurrency Sustaining Above the Support Levels- Chainlink (LINK)

13 June 2024

LINK
Investment Type
Crypto
Risk Level
Action
Rec. Price (US$)

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Chainlink (LINK) is a decentralized cryptocurrency founded in 2017 which enables transactions through an oracle network. The Chainlink network is run by a huge open-source community, such as data providers and developers, which help technology interact securely with external data feeds. LINK has a market capitalization of ~USD 9.17 billion (as per TradingView as of June 13, 2024).

Last week, the benchmark S&P Cryptocurrency Broad Digital Market (BDM) Index started on a positive note and maintained a bullish momentum for the entire week. The index advanced by 48.87 points (~1.04%) to 4765.82 for the week ending June 07, 2024. In the current week starting June 10, 2024, the index is trading with negative momentum. Moreover, other major cryptocurrencies, such as Bitcoin and Ethereum, are witnessing bearish momentum for the current week.

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