The altcoin market has started the weekend with amazing gains, with Chainlink (LINK) regaining its bullish momentum and Bitcoin Gold (BTG) making a double-digit win.
Chainlink Regains Its Bullish Momentum
The price of the Chainlink (LINK) token continues to rise, striving to push its recent two-month high of $30.40. At the time of writing, the token is trading around $28.88, according to data from CoinGecko.
The price jump comes in direct correlation with the rise in its network activity to its recent three-month high. A day before that, Chainlink price feeds went live on the Fantom Opera mainnet, a scalable platform for hosting DeFi apps and enterprise software. All this collectively contributed to its price rise.
At the beginning of the year, Chainlink’s price was at sky-high, amid announcements of multiple new partnerships. The token’s last all-time high was reached on May 10 at $52.88.
Over the past week, the trading volume of LINK has increased by a whopping 71.0%, while the overall circulating supply has increased 0.25% to over 447.51 million. This makes an estimated 44.75% of its max supply, which is 1 billion. The current market cap for LINK stands at 13th, at 12.62 billion.
Bitcoin Gold Making Double-Digit Gains
The price of Bitcoin Gold (BTG) seems to have paid well for investors this year, with a gain of more than 600% since January. At the time of writing, the cryptocurrency is trading at $75.19 after a 15.4% gain in the past 24 hours.
If the bullish momentum continues, BTG could soon reach the resistance of $78 to create a new monthly high. If it slumps, the altcoin could see the lower support level of $74, which could also be retested if investors want another rally.
Bitcoin Gold is a hard fork of the original Bitcoin network that was created to improve efficiency in the mining process. The other major Bitcoin forks are Bitcoin Cash and Litecoin.