Chainlink, the biggest blockchain oracle network in crypto, has overthrown Dogecoin (DOGE) as the 11th-largest cryptocurrency on the market. 

Chainlink 是加密領域最大的區塊鏈預言機網絡，它已經取代狗狗幣 (DOGE)，成為市場上第 11 大加密貨幣。

LINK has risen by over 6% today and 34% in a week, becoming the highest gainer in the market today. As part of the price increase, LINK crossed the $19 mark today for the first time since FTX’s collapse in 2022.

LINK今日漲幅超6%，一週漲幅34%，成為今日市場漲幅最高的股票。作為價格上漲的一部分，LINK 自 2022 年 FTX 崩盤以來首次突破 19 美元大關。

There is also a notable correlation between the altcoin’s market movement and its trading volume, as LINK’s trading volume was boosted nearly 100% today, according to data from CoinMarketCap. 

根據 CoinMarketCap 的數據，山寨幣的市場走勢與其交易量之間也存在顯著的相關性，因為 LINK 的交易量今天增長了近 100%。

LINK’s market movements

LINK的市場走勢

From a technical perspective, LINK has broken out from a horizontal trading range that had been in place for nearly 90 days. This breakout ended an 85-day consolidation period below resistance, propelling the price to over $19.75, its highest in over two years.

從技術角度來看，LINK已經突破了近90天的水平交易區間。這次突破結束了 85 天的阻力位下方盤整期，推動價格升至 19.75 美元以上，為兩年多來的最高水準。

LINK’s Relative Strength Index (RSI) is also significantly low, at 14, which suggests a further bullish momentum could be anticipated, followed by a period of corrections. 

LINK 的相對強弱指數 (RSI) 也明顯較低，為 14，這表示可能會出現進一步的看漲勢頭，然後是一段調整期。

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An RSI of 14 is considered to be highly oversold. The RSI is a momentum indicator used in technical analysis that measures the speed and change of price movements on a scale from 0 to 100. Typically, an RSI below 30 indicates that an asset is in oversold conditions, suggesting that it may be undervalued and could be due for a reversal or corrective rally as sellers may have exhausted their positions, leading to potential buying opportunities.

RSI 為 14 被認為是高度超賣。 RSI 是技術分析中使用的動量指標，以 0 到 100 的範圍衡量價格變動的速度和變化。通常，RSI 低於 30 表示資產處於超賣狀態，表明該資產可能被低估，並且可能會下跌。由於賣家可能已經耗盡頭寸，因此可能出現逆轉或修正性反彈，從而帶來潛在的買入機會。

However, while an extremely low RSI can indicate the potential for a price increase, it is not a guarantee.

然而，雖然極低的 RSI 可以表明價格有上漲的潛力，但這並不能保證。

On the fundamental side, Chainlink has focused on significant upgrades and expansions into traditional finance (TradFi) and real-world assets (RWA). The launch of the Cross Chain Interoperability Protocol (CCIP) and the expansion of Chainlink Data Streams and Chainlink Functions aim to enhance the network’s utility and adoption across various chains and assets.

從基本面來看，Chainlink 專注於傳統金融 (TradFi) 和現實世界資產 (RWA) 的重大升級和擴展。跨鏈互通性協定（CCIP）的推出以及 Chainlink 資料流和 Chainlink 功能的擴展旨在增強網路在各種鍊和資產上的實用性和採用率。

This strategic push towards integrating with the capital markets and bolstering transparency and efficiency in the valuation of underlying assets is likely contributing to the positive market response. 

這種與資本市場整合以及提高基礎資產估值透明度和效率的策略性推動可能有助於市場的正面反應。

Read more: Canadian crypto platform Einstein Exchange was Ponzi scheme, says local regulator

閱讀更多：當地監管機構表示，加拿大加密貨幣平台 Einstein Exchange 是龐氏騙局