Coinbase listing makes Chainlink (LINK) the only shining star on the collapsing cryptocurrency market
- Chainlink (LINK) has gained over 8% in recent 24 hours and hit an all-time high.
- Coinbase listing created positive sentiment and helped to push the coin to new record levels.
Chainlink (LINK) is the only cryptocurrency out of top-25 that remains in the green zone amid broad-based collapse on the cryptocurrency market. The coin reached an all-time high at $2.47 during early Asian hours before retreating to $2.31 by press-time.
What's going on
Chainlink's listing on Coinbase Pro is news behind the coin's success story. The US-based cryptocurrency exchange added support for LINK, which means all Coinbase Pro users except for New York State residents can buy and sell the coin directly from their accounts.
Coinbase has already started accepting inbound transfers of LINK to Coinbase Pro, while the full trading functionality will be available in at least 12 hours, following the listing procedures of the cryptocurrency platform.
"Once sufficient supply of LINK is established on the platform, trading on the LINK/USD, and LINK/ETH order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met. Support for LINK will be immediately available in all Coinbase's supported jurisdictions, except for New York State. Additional jurisdictions may be added at a later date," the company wrote in an accompanying statement.
What is Chainlink
Chainlink (LINK) is an Ethereum-based token that powers decentralized oracle network. It allows connecting Ethereum smart contracts with external data sources in a reliable and secure way.
Participants on the Chainlink network are rewarded in LINK coins for providing smart contracts with access to external data feeds.
Author
Tanya Abrosimova
Independent Analyst
