Chainlink's price has experienced a significant downturn today, primarily driven by broader market trends affecting the cryptocurrency sector. The CoinDesk 20 Index, which tracks the performance of major cryptocurrencies, has seen a decline of 3.7% since Friday, with Chainlink being one of the assets affected. This market-wide downturn has overshadowed the recent positive momentum Chainlink had been experiencing, as noted in previous reports of whale accumulation and technical resistance level breakthroughs.
Additionally, the market sentiment has been impacted by external factors such as the recent Radiant Capital hack attributed to North Korean actors, which has heightened concerns about security vulnerabilities in the DeFi space. Such events can lead to increased caution among investors, contributing to the sell-off in cryptocurrencies, including Chainlink.
Chainlink's price has fallen by 8.29% today, reaching a low of $23.978643.