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Profit Taking Activity for AAVE, LINK, and MATIC Spike This Week

Cryptocurrency Oct 06, 2022 06:00AM ET
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Profit Taking Activity for AAVE, LINK, and MATIC Spike This Week
 
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  • LINK, AAVE, and MATIC all saw positive price movements this past week.
  • Profit taking activity for the three coins has spiked according to Santiment.
  • In related news, the price of BTC remains above the $20k level.

The global crypto market cap has risen slightly over the last 24 hours according to CoinMarketCap – taking the total to $967.75 billion at press time. The positive price movements for many of the cryptos in the market have seen traders take profit. Three coins where this can be seen are Chainlink (LINK), Polygon (MATIC), and Aave (AAVE).

LINK’s price is trading at $7.81 after a 0.72% rise. This adds to the positive performance of LINK over the last week as its price has printed a 1.59% weekly gain. MATIC was able to print a double-digit weekly gain of 14.13%, which has boosted its price to $0.8452. Meanwhile, AAVE’s price has risen 3.56% to take the altcoin’s price to $78.90.

Profit taking for AAVE, MATIC, and LINK (Source: Santiment)

Data shared on Twitter by Santiment yesterday shows that the price rises of these coins at the start of this week have led to high profit taking levels. The tweet added, “These can be some short-term top signals, but if accompanied by stability from Bitcoin staying over $20k, there could be room for growth.”

Looking at the crypto market leader, the price of Bitcoin (BTC) still remains above the $20k level as this week comes to an end. This is after its price strengthened 4.47% over the last week. Its price did however dip a slight 0.16% over the last 24 hours.

Bitcoin’s market cap now stands at $387,360,004,671. Its daily trading volume has picked up 3.73% over the last 24 hours, which has taken the total to $36,358,966,068.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Profit Taking Activity for AAVE, LINK, and MATIC Spike This Week appeared first on Coin Edition.

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Profit Taking Activity for AAVE, LINK, and MATIC Spike This Week
 

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