Chainlink (LINK) network is a leading provider of oracle data to web3 platforms and smart contracts, yet it remains undervalued in the cryptocurrency market. With a market cap of around $8.7 billion and daily traded volume of $332 million, LINK has been trading around $14 throughout the year.
Bitcoin’s price has been stagnant between $72k and $60k for the past few months, facing selling pressure from whales looking to diversify into altcoins. A notable crypto analyst, Michaël van de Poppe, predicts a bullish trend for LINK against Bitcoin after a recent rebound.
Chainlink’s price against the US dollar is uncertain after six months of consolidation, but it may rise with a potential crypto market recovery in July. However, it could also drop to $11 to attract buyers and establish bullish momentum.
The filing for a Solana ETF by VanEck has raised hopes for more similar products in the market. A potential Chainlink ETF could also be on the horizon as digital assets gain mainstream adoption by institutional investors.
In other news, Bolivia has reopened cryptocurrency trading after a 4-year ban, showcasing the evolving landscape of digital assets in the global market.