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Chainlink (LINK) continued its march today toward the top 10 most-capitalized cryptocurrencies in the market.
The price of LINK jumped roughly 17 percent today following news earlier this morning that Chainlink had partnered with Socios—a sports tokenization platform—and its cryptocurrency Chiliz. Socios allows fans to instantly build tokens commemorating events that occur in the wide world of sports.
Chainlink’s price reached nearly $5 per token, but has since corrected and is currently trading for around $4.75.
Following a lengthy period of hovering near the $2 per coin mark, Chainlink experienced a healthy surge in early February that took it beyond $3 per token. And the coin hasn’t looked back since.
The idea behind Chainlink is to enable quick-action smart contracts to give users fast and reliable event data. Its partnership with Socios marks the first time that Chainlink has integrated with a sports-related platform. Prior, the decentralized oracle provider had linked up with players in other industries such as insurance and DeFi applications.
But while Chainlink had itself a good day, the same can’t be said for the rest of the market. Bitcoin, for example, has remained relatively stagnant. And the same is true for Ethereum, XRP, and much of the top 10 coins by market cap.