Altseason in full swing as Tezos, VeChain and Chainlink break records

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Last Updated on 11 August 2020 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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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.

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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.

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.

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.

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.