Open interest in futures on ChainLink exceeded $287 million

by in Cryptocurrency News

Chainlink

According to the latest data, open interest in futures contracts on ChainLink (LINK) has surged to a new high.

Researchers from the Bybt.com team found that this figure reached $ 287.72 million at the end of this week. The surge in interest in LINK-futures is observed against the backdrop of another rise in the value of this altcoin.

On Sunday, January 17th, ChainLink's price increased to $ 21. The cryptocurrency capitalization now exceeds $ 8.31 billion. The coin has risen to ninth place in the CoinMarketCap ranking.

The day before, on the Binance exchange, the LINK rate at the moment tested values ​​above $ 22. However, then the token rolled back as part of the correction.

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The growing interest in altcoin is also indicated by the data on the increase in the number of addresses making transactions daily. In mid-January, analysts recorded the highest number of active LINK addresses in the past five months, according to the Santiment report.

Given the tremendous impact of bitcoin on the market, it is possible to predict further growth of ChainLink only if the price of BTC can also renew highs in the coming weeks.

Today Bitcoin is trading slightly above $ 35,000. Due to the lack of sufficient support, the largest cryptocurrency is unlikely to be able to approach $ 40,000 again within the next 24 hours.