Cryptocurrency News Today – The digital currency market has been on a downward spiral over the past two days. The considerable plunge in the prices of digital currency has caused the overall market cap to fall below the $200 billion level again. However, there are a few digital currencies that are escaping the bears, and Chainlink is one of them.

Valuation of the Crypto Market Drops Below $200 Billion Again

The sell-off in the market started on Monday and it has continued until this moment, as the valuation of the total market drops by another $4 billion a few hours ago. The crypto cap has slumped by about $10 billion since it tested a weekly high of $206 billion. At press time, it is at $196 billion, with most digital currencies still deep in the red.

Bitcoin was at the forefront of the dumps, with a decrease of about three percent to bottom out at $7,150. While there has been a slight positive change, with BTC recovering over the $7,250 level, the digital currency still looks bearish.

Chainlink (LINK) Escapes the Bears

There are a few digital currencies that seem to have survived the ongoing downtrend in the market. One crypto that has been trading deep in the green while others are struggling in the red is Chainlink. Over the past day, the price of Chainlink has surged by about 14 percent. The price of LINK has surged from the low of about $2 to top out at $2.30 in less than two hours, making it one of the top-performing digital currencies over the past day.

The market cap of Chainlink has surpassed $800M and the trading volume of the digital currency over the past day soared to $227 million. This massive upsurge in price also increased the ranking of the digital currency. At the time of writing, Chainlink is at the sixteenth position on the list of top digital currencies by market cap.

Chainlink is one of the top-performing altcoins this year, with an increase of almost 700 percent since the beginning of this year. Most of its gains are attributed to an exchange listing, which is pretty surprising as such announcements have had very little effect on other digital currencies. Via a Medium post, Bittrex announced that it would soon add Chainlink to its trading platform. Bittrex is not one of the top trading platforms, but it has a US platform which is good news for LINK holders.