Altseason in full swing as Tezos, VeChain and Chainlink break records
Last Updated on 11 August 2020 by CryptoTips.eu
The altseason, which seems to have started a few days after the Bitcoin halving of 12 May, is continuing in full swing. Although most of the media attention goes to the Bitcoin price that is trying to break through $12,000, the altcoins are also outperforming.
The latest proof of this are the new records set by Chainlink and VeChain in the past few days.
VeChain New All-Time High
VeChain has seen a stellar 2020 getting topped off with a new high of $0,022917 earlier this week. This record is based on the data of CoinMarketCap, which does not take into account the rebranding from VEN to VET. As we’ve pointed out, the small altcoin had been putting in five straight days of green candles in recent days and thus chances for a new record were indeed improving.
#vefam #vechain #bitcoin #crypto #blockchain #cryptocurrencies $vet
— ?Fat Elvis? (@fatelviscrypto) August 10, 2020
Pretty impressive for Vechain to win over a company with annual revenues of almost 4 billion.
That says it all!!
VeChain enters the 2nd project phase with Chinese natural gas giant https://t.co/3ak80cq54Y
On 9 August 2020 VeChain did just that and set a new all-time high. If you take into consideration that VeChain was selling at $0,001678 on 13 March of this year, the infamous Black Thursday, then you know what a performance this coin has put in.
#VeChain Google search interest is starting to curl up again.
— Justin Bennett (@JustinBennettFX) August 10, 2020
Higher highs and higher lows, just like the price chart. ?$VET #VET #VeFam pic.twitter.com/XNscz1vmCt
Thanks to positive media stories and a massive social media crowd supporting it, VeChain looks almost unstoppable at this point. At the moment of writing, the VeChain price trades at $0,021170.
Chainlink New All-Time High
Chainlink also set a new All Time High in the past few days.
Already on Saturday 8 August crypto traders saw a massive short squeeze which led to Chainlink spiking up some 52% in a single trading session. The next day, investors noticed and took the coin to a record of $14,37.
Considering that on 5 August only we predicted it would breach $10, a phenomenal rise.
The DeFi-related token is being helped by it’s Chainlink Marines who are hellbent on pushing Zeus Capital into oblivion.
This financial group is trying to make money by shorting Chainlink which they accuse of being nothing but a pump and dump scam. They even contacted several well-known crypto influencers to distribute negative stories about the coin.
Analyst Predicts Chainlink Retracement As It Hits All-Time-High Of $14https://t.co/BE5HqSXx6C
— Pyrrhos Trust Company (@pyrrhosgold) August 10, 2020
In response, the Chainlink Marines, it’s social media supporters, sent the coin ever higher by creating a massive buzz around it. At the moment of writing, the Chainlink price trades at $13,13 and is down 3% for the past 24 hours.
2-yearly record for Tezos
Today’s winner is Tezos, which is for the first time in 2 years, over 4 dollars per XTZ again. The last time we saw this was around June 2018.
The exact cause of the rise of the Tezos price is not known. At the time of writing, Tezos is traded for $4.19 and is 15% higher for the last 24 hours. On a weekly basis we see an increase of 32%, on a monthly basis 54% and on a yearly basis more than 206%!
When and where will Altcoinseason end? Thus far, no one knows.