A little-known cryptocurrency spiked more than 60% after Google gave the project a surprise shout-out in an equally-unexpected blog post on how to use Ethereum and Google Cloud to build hybrid blockchain applications.
That cryptocurrency, Chainlink (LINK), enjoyed a parabolic swing that launched its price as high as $2.00 on Binance. Just hours earlier, LINK had traded below $1.10. As of the time of writing, the Chainlink cryptocurrency was priced at $1.86 on Binance, which translates into a 24-hour gain of 62%.
That gives LINK a $619 million market cap, rocketing it to the 23rd spot in the market cap rankings and vaulting it past better-known crypto assets including Zcash and Dogecoin.
The cryptocurrency’s sudden rally began immediately after Google Cloud developer advocate Allen Day published a blog post demonstrating how developers could use Chainlink to enable Ethereum smart contracts to communicate with BigQuery, Google’s enterprise cloud data warehouse.