Bitcoin’s price (BTC) may be less than its historical highs than any other cryptocurrency, however So far 2020 has been the year of Chainlink (LINK).
The TIE noted this in the latest edition of its Weekly Insights report, October 26th Chainlink had outperformed all other cryptocurrencies with an annual return of more than 600%.
Bitcoin is falling less against historical spikes
When comparing the performance of Altcoins, the report highlighted Cardano (ADA) with 224% yield, Ether (ETH) with 217% and Monero (XMR) with 182%.
The numbers provide a timely counterpoint for crypto viewers as attention continues to largely focus on Bitcoin and its recent gains, which peaked at $ 13,370 over the weekend.
The excitement over a repetition of the so-called “alternate seasons” of the past few years has also subsided, with Cointelegraph Markets analyst Michaël van de Poppe warning that Ether may not be set up to copy Bitcoin hits this time around.
How you go away Bitcoin remains the least declined cryptocurrency compared to its all-time highs at press time, up 36% from its late 2017 high of $ 20,000.
In contrast, Chainlink is down 41%, Ether is down 73%, and Cardano is down 92%. The worst results on the major market cap tokens are Ripple (XRP) and Bitcoin Cash (BCH), both down 94%.
Among the major cryptocurrencies, Binance Coin, Bitcoin and Chainlink are the closest to their all-time highs. While the average asset is 79% down from its peak, BTC is down 36%, ”summarized The TIE.
That means the price of Bitcoin would have to increase + 55% (around $ 7,000) to hit its all-time high. It’s been almost three years since BTC was at $ 20,000. “
Comparison of the returns of the major cryptocurrencies in 2020. Source: The TIE
“Where did all the LINK Marines go?”
Meanwhile, the TIE noted that Chainlink is conspicuously absent from social media despite its 2020 rally.
How many assets Chainlink recently peaked during the summer altcoin madness and has declined significantly since then.. This has resulted in LINK-related conversations on Twitter falling by -60%, ”the report said.
“This drop in conversations has continued even though LINK has recovered 70% from its low. That brings me to my question, where would all the LINK Marines go. “
Meanwhile, Google’s search data for Bitcoin has trended up slightly over the recent price hikes, but is still lower than it was in August when it returned to $ 12,000.