Chainlink Rises as Bitcoin Dominance Falls Amid Market Weakness

The crypto market ended the week with a clear negative breadth and aggregate capitalization remaining roughly flat around $2.17 trillion, according to data from CoinMarketCap.

A scan of the top 100 tokens showed that 37 closed the week higher, while 61 lost ground, and 2 finished where they started. The median return was -0.78%, and a cap-weighted return of -2.19% for the top 50 tokens excluding stablecoins, wrapped tokens, and staked duplicates.

Bitcoin dominance fell roughly half a percentage point from August 6 to stand at 58.4%. This suggests selective rotation rather than a broad capital shift toward other assets.

Chainlink (LINK) was the clear outlier in the established-liquid universe, with a weekly performance of approximately +13.53% and finishing well above its 20-day and 50-day simple moving averages.