Chainlink (LINK) jumps 30% in 24h, hits yearly high

As Bitcoin consolidates around the $90k mark, several altcoins, including Chainlink (LINK), are reaching new highs. LINK has experienced a 30% surge in the past 24 hours.

Over the past week, Chainlink's price has increased by over 40%, rising from $17.56 to an annual high of $26.44 on December 3 (according to Coinmarketcap). LINK's 24-hour trading volume has also witnessed a significant increase of over 950%.

While Bitcoin maintains its position at $90k, it provides a strong boost to major altcoins, with some even seeing 100% growth over the past month. Analysts predict LINK to be among the frontrunners for substantial gains during the 2024-2025 altcoin season.

In the past month, LINK's price has risen over 128%, trading near $10 in early November and now surpassing $25. LINK's all-time high of $52.88 was set in May 2021.

To reach a new high, LINK's price would need to double from its current levels, which, given its recent performance, seems feasible.

The upcoming month will be critical for the cryptocurrency market as Bitcoin aims to break $100,000, with altcoins following its lead.