Chainlink drops 11 percent: why LINK falls harder than Bitcoin

Chainlink costs 10.42 dollars and has lost 11.47 percent within 24 hours. Bitcoin gave up 5.15 percent over the same period. The reason for that gap does not lie with Chainlink itself: an unexplained movement of balances at the exchange Binance set off a wave of forced closures of leveraged positions on the evening of 29 October, and in waves like that mid-sized coins regularly fall twice as far as Bitcoin. For holders of Chainlink, that means the slide is part of a market move, while October's fundamental news points the other way. Chainlink at 10.42 dollars: the slide in figures Chainlink trades at 10.42 dollars, down 11.47 percent against the previous day. Over the week the decline stands at 10.96 percent. That puts LINK in 17th place among the largest cryptocurrencies by market value. For comparison, the moves of the larger assets over the same window: Bitcoin lost 5.15 percent to 76,931 dollars, Ether 6.25 percent to 2,207.06 dollars. BNB, Binance's exchange token, fell 8.84 percent, XRP 8.03 percent, Solana 7.93 percent to 93.80 dollars. Cardano gave up 9.62 percent, and NEAR Protocol was the weakest in the field of the 25 largest coins at 15.52 percent. Only Hyperliquid at 1...