LINK Cryptocurrency Leaves the Top 20 Cryptocurrency Ranking…Why?
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Answer LINK Cryptocurrency Leaves the Top 20 Cryptocurrency Ranking…Why?
The cryptocurrency LINK, one of the most popular cryptocurrencies affiliated with the decentralized network Oracle, has left the list of the top 20 cryptocurrencies on CoinMarketCap in terms of total market capitalization.
At the same time, it seems that this is not her fault, as the intensification of competition made her leave the list to make way for new currencies.
LINK leaves the top 20 coins list, and is replaced by ALGO coins:
Today December 2, 2021, the “LINK” cryptocurrency indicator is colored red, and it is down 7% in 24 hours.
As such, its total market capitalization has fallen to $11.6 billion.
Just like Cardano (ADA), the digital currency LINK is trading less than 50% of its all-time high recorded on May 9, 2021, above $52.Read:A technical loophole causes $240,000 worth of EOS to be stolen
While the digital currency “ALGO”, which is a digital currency affiliated with the high-performance smart contract platform “Algorand”, showed a decrease of approximately 6.2%, but despite this it outperformed the digital currency LINK in terms of market capitalization.
ALGO added more than 50% in just three months and entered the top 20 by market capitalization for the first time in its history.
The battle rages between the big digital currencies:
Meanwhile, LINK is leaving the top 20 not because of Algorand, but also because of the impressive rises of other big cryptocurrencies.
In recent days, both “LUNA” and “MATIC” have risen to new historical levels.
The competition in the 10-20 zone has become very brutal.
Earlier in the day, the ADA cryptocurrency jumped 15%, after the CEO of IOHK emphasized the advantages of his project’s programming language over Solidity.
Terra’s cryptocurrency LUNA added 60% in one week and surpassed Shiba Inu.Read:Find out how much the bitcoin price was during the past US elections
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