Chainlink (LINK), the popular decentralized oracle network has suffered a major price decline, causing bears to celebrate. However, LINK has responded perfectly to the decline, rallying to bring the celebration of the bears to an abrupt end. Also in the bullish end of the crypto market is Tradecurve (TCRV), a new crypto that has shown resistance to the bear market.
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Chainlink (LINK) Ends Celebration of Bears
On June 10, the price of Chainlink (LINK) tumbled by 12%, along with the cryptocurrency market. However, the digital asset suffered another 8% price crash starting from June 17 after the Chainlink team transferred tokens out of its non-circulating supply. The bearish Chainlink market was a misconception over the reason for the transfer.
Bears thought the LINK tokens were dumped by the Chainlink team, leading to a massive sell-off. However, the Chainlink team will clarify that the tokens were sold to cover the transaction fees of its Chainlink coordinators, node operators, and stakers. According to a Chainlink community ambassador, the sale of the token was important for the infrastructural development of Chainlink Economics 2.0.
After the clarification, Chainlink bulls took over the market to fight off the bears. Over the last 24 hours, the price of LINK has jumped by 7.1% and as much as 14% in the last seven days. Chainlink (LINK) now trades at $5.93, recovering from the losses since the bears took control of the market. However, the bulls would need to break above the $6 mark to confirm the change of trend.
Tradecurve Rallies 20%, Shows Resistance to Bear Market
Amidst the bearish downtrend of the crypto market, the price of Tradecurve (TCRV) experienced a 20% jump to set a new trading high at $0.018, showing the token’s resistance to the bear market.
Tradecurve was able to beat the bear market thanks to the growing adoption of its platform that will bridge the cryptocurrency market with the global over-the-counter (OTC) derivatives market.
Tradecurve will be the first decentralized trading platform where users will be able to trade instruments from the global market including forex, options, stocks, CFDs, and ETFs from their cryptocurrency account.
The OTC derivatives market was valued at over $632 trillion in June 2022 by the Bank for International Settlement. The value of this market puts Tradecurve in a position to experience massive price growth and further resist the crypto bear market.
Also, as a decentralized platform, traders will be able to open this all-inclusive trading account with only their email addresses. Because Tradecurve does away with KYC requirements, users will be able to trade anonymously from anywhere they are in the world without restrictions on their accounts.
As more traders move to Tradecurve, market experts have predicted that the price of TCRV could hit $0.025 in the next week. Now, TCRV trades at $0.018, making it a great opportunity as experts forecast a $1 price tag of above $1.5 before the end of 2023.
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