Share this article
Chainlink Up Nearly 1,000% Since 'Black Thursday' Crash
Chainlink's LINK token has surged nearly 1,000% over the past five months, and some are worried the market is beginning to overheat.
By Paddy Baker
Updated Sep 14, 2021, 9:45 a.m. Published Aug 18, 2020, 10:02 a.m.
The rally in data oracle coin chainlink means it is now up nearly 1,000% from where it was when markets tumbled during the Black Thursday sell-off.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- After bottoming at a near-year low of $1.79 on March 17, LINK tokens have been within a few cents of the $20 boundary in the past few days.
- CoinGecko data shows LINK hit $19.54 in the past 24 hours, or 983% above its mid-March price. It hit its all-time high of $19.84 on Sunday.
- The price rise has been accompanied by a surge in investor enthusiasm: Searches for chainlink on Google are at an all-time high and its trading volumes have soared past that of bitcoin's.
- Media owner and latter-day trader David Portnoy has spurred the hype further after reportedly buying $50,000 worth of LINK at the weekend.
- Some are concerned. Mati Greenspan, the founder of analyst firm Quantitative Economics, told CoinDesk the euphoria surrounding Chainlink was a worrying sign some investors may be getting in over their heads.
- "Kids bragging on social media about getting their parents' and grandparents' retirement funds into this [is] usually a good sign that the top is near," he said.
- At press time, LINK tokens were down 10%, trading just above $17.
See also: Link Price Surges 32% to Overtake Bitcoin Cash as 5th-Largest Crypto by Market Cap
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Bitcoin rises above $89,000, showing rare gain in U.S. trading
Open interest data suggests the advance is likely short-covering, rather than fresh longs entering the market.
What to know:
- Bitcoin was trading higher during U.S. market hours, marking a notable shift after a month in which BTC fell roughly 20 percent cumulatively while American stocks were open.
- Declining open interest suggests the move is driven by short-covering rather than fresh leveraged longs.
- Broader crypto markets remain fragile as ETF outflows, tax-related positioning, and light holiday liquidity pressure prices.
Top Stories
