Photo courtesy: Chainlink

Chainlink (LINK-X), one of many contenders in the world of cryptocurrencies, hit an all-time high this weekend.

What Happened

Coindesk reports that Chainlink hit a record high of $25.51 on Saturday, Jan. 23. It is now just over $24. Coindesk says Chainlink is up 105% since Jan. 1 of this year, while a year ago it was under $3.

Why It Matters

Cryptocurrencies have taken off in the past few months, with Bitcoin (BITCOMP) and other currencies reaching record highs amid predictions of far greater heights to come. In recent weeks, though, there has been a pullback. After hitting $11,000 in October, Bitcoin went on a tear, reaching more than $41,500 on Jan. 8. It is now trading at about $32,000.