Chainlink (LINK) Steals Bitcoin’s Thunder, Sets Historic High as Crypto Market Bleeds

The Chainlink’s crypto token hit a new record on Wednesday even as its top rivals continued to underperform amidst a gloomy market outlook.

Dubbed as LINK, the eleventh-largest cryptocurrency climbed 27 percent this week to establish an all-time high of $4.92. It performed similarly well against bitcoin, rising by more than 22 percent to 55,683 sats to become one of the leading risk/reward assets in both the dollar and crypto-denominated markets.

Chainlink’s LINK token hits ATH despite crypto meltdown | Source: TradingView.com, Binance

Elsewhere, other cryptos remained pressured by the market risks associated with the rising of the Coronavirus epidemic.

Bitcoin, the leading cryptocurrency, rebounded by 2.67 percent since Monday after closing last week at a loss of more than 15 percent. Similarly, Ethereum’s Ether and Ripple’s XRP each surged by 1-2 percent, showing a clear lack of upside bias in their respective markets.

“M” a Bull

Chainlink’s latest gains appeared to have…