Recently, the cryptocurrency market has been experiencing a sustained cycle of altcoin-focused pumping. Projects such as Polkadot, Chainlink, Cardano, Waves, Enjin, Ignis, IOST, Moss, and Hedera have each shown upward momentum in succession. However, due to the irregular and rapid nature of these movements, it has been difficult to realize actual profits. For example, Enjin Coin has fluctuated between 0% and 100% in a single day, putting investors who entered at the peak in a tough recovery situation. Such speculative and reactive trading often leads to losses and should be consistently avoided.
At this point, a better strategy might be to either wait for your holdings to be pumped or enter low-valued coins that haven’t seen a recent price surge and wait. If short-term trading feels difficult or overwhelming, a more realistic approach might be to accumulate major coins like Bitcoin or Ethereum during market corrections and hold them long term. This strategy can be particularly effective for investors who see the market as being on an upward trajectory.
Bitcoin itself has been showing higher lows on the 4-hour chart, indicating a gradual uptrend, and on the weekly chart, it is forming lower wicks within red candles, suggesting a strong closing trend to the upside. While some interpret the chart as forming a head-and-shoulders pattern, from a probabilistic standpoint, leaning toward a bullish position is not a bad choice. If this trend continues, we might expect Bitcoin to retest and potentially surpass the $40,000 level.
Amid this market environment, one coin drawing particular attention is Chainlink, a leader in the DeFi sector. Launched in 2017 and officially rolling out its mainnet in May 2019, Chainlink has steadily grown and currently holds the highest market cap among DeFi coins. It has a market capitalization more than twice that of the second-largest DeFi coin, securing its dominance. Within the overall crypto market, it ranks 9th, underscoring its high valuation.
Chainlink functions as an oracle, connecting external real-world data to Ethereum smart contracts. It provides price feeds, sports results, weather data, and more to the blockchain in a secure and reliable manner. This functionality is essential not only in finance but across all decentralized applications, enhancing trust in data.
Chainlink is actively traded on major global exchanges, including Binance, and is also listed on domestic platforms like Upbit and Bithumb. Its network of partners continues to grow, collaborating with various blockchain projects to supply oracle solutions.
From a pricing standpoint, Chainlink underwent a correction after peaking in August 2020 but resumed its upward trajectory by January 2021, reaching new highs. If Bitcoin remains stable, leading DeFi coins like Chainlink are likely to attract renewed attention. Given its current elevated price, however, a more cautious entry strategy such as buying in during pullbacks may be more favorable.
Today’s market environment is quite different from the 2017–2018 bull run. There are far more altcoins now, and post-pump crashes happen even faster. As the market grows more sensitive and volatile, investors need to be more strategic and discerning. Rather than chasing short-term gains, it is essential to rely on structured market trends and data-backed analysis when making investment decisions.
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