It\u2019s no secret that Chainlink (LINK) has been one of the best performing cryptocurrencies throughout 2019, with the crypto setting fresh all-time highs in late-June and ending the year up significantly from where it started it.<\/p>\n
This bullish price action isn\u2019t unwarranted either, as it has been driven by a massive influx of trading volume that has allowed the crypto\u2019s cumulative on-chain trading volume to surpass $4 billion USD.<\/p>\n
This volume growth may also translate into some bullish price action, as one analyst recently noted that LINK could be primed for a massive rally against Bitcoin in the coming few months.<\/p>\n
Chainlink\u2019s trading volume<\/a> has been closely correlated with its price action<\/a> over the past year, although it remains unclear as to whether or not this correlation equates to causation, or if it is simply the byproduct of the cryptocurrency\u2019s massive YTD growth.<\/p>\n This macro uptrend that the crypto has been caught within has allowed LINK\u2019s trading volume to surpass $4 billion USD for the first time ever, which is a major milestone that signals that crypto is likely to continue seeing increased buying pressure in the near-term.<\/p>\n \u201cCumulative $LINK on\u2013chain volume has surpassed 4 billion US Dollars. #Chainlink,\u201d Glassnode, a blockchain research and analytics firm, noted in a recent tweet while referencing a chart that shows the crypto\u2019s massive on-chain volume growth.<\/p><\/blockquote>\n Cumulative $LINK<\/a> on\u2013chain volume has surpassed 4 billion US Dollars. #Chainlink<\/a> https:\/\/t.co\/JASxgiremt<\/a> pic.twitter.com\/UF7UXUFab4<\/a><\/p>\n — glassnode (@glassnode) January 13, 2020<\/a><\/p><\/blockquote>\n\n