Link me to the moonChainlink has certainly chosen an interesting time to wake up from its slumber, adding to its recent good news by integrating with Moonbeam on Polkadot.
- Chainlink is buddying up with Moonbeam, the biggest dApp ecosystem on Polkadot. Chainlink’s price oracle will provide data to an array of applications running on Moonbeam, including decentralized exchanges, lending and borrowing applications, and staking protocols.
- Moonbeam founder Derek Yoo hopes the integration will solve current issues involved with pricing data. By curbing attacks and manipulation on price feeds, Chainlink will give DeFi devs less stress when building applications.
- LINK is up over 5% this week despite crypto kinda falling off a cliff, so it certainly has decided to give investors some fundamental-driven optimism at an apt time. This latest development closely follows Chainlink’s staking announcement and partnerships in the real estate biz. Someone’s gotta be the bearer of good news in a bear market.
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And if you don’t love me nowChainlink is about to get a massive glow-up that investors have been waiting forever for.
- Staking is coming to Chainlink. Yup, the often forgotten-about crypto is trying to catch up with the big dogs, allowing users to earn a passive income through LINK rewards. It will be launched under “Chainlink Economics 2.0” – a new era for the network that seeks to boost financial sustainability and user participation on its blockchain.
- It will start with a staking pool of 25m tokens, rising to 75m if the demand is good. By staking LINK, users are given an incentive to help ensure the security and smooth running of the network. Simply put, staked LINK improves the security guarantees offered by Chainlink’s oracle services – largely used for pricing data.
- LINK has gained over 15% this week, going against an ambivalent looking crypto market. It reached its all-time high of $53 last May amid crypto’s intense bull market run-up, but now trades at just under $9 – the lowest levels since 2020. Could staking help bring it up to speed with the front runners?
Chainlink climbs the property ladderThe somewhat forgotten crypto strikes a deal to bring its blockchain to the Latin American real estate market.
- Chainlink is set to take DeFi to the real estate bizz, integrating with property company LaProp. The latter has plans to automatically distribute rent revenue to those with tokenized stakes in LaProp’s properties, using Chainlink Keepers to do it.
- Tokenizing the real estate industry? It’s early days, but the decentralized nature of blockchain could help democratize real estate investments and property ownership. LaProp users can invest in the platform’s properties for as little as $50.
- LINK investors will welcome the news, given how shy the crypto can be. After floating around the top 10 cryptos for most of 2021, it has slumped down the market cap chart to sit at #24 as of Thursday. Despite being around a while and having solid use cases, LINK has struggled to compete with the new cryptos on the block.
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Crypto whales crank up Chainlink recoveryWhale trading has bumped Chainlink back up the ranks, with volumes finally ramping up after a prolonged period of consolidation.
- The top 1,000 whales now actively trade more Chainlink than Shiba Inu and Crypto.com tokens combined.
- It’s the sixth most popular crypto for traders, and analysts think the price could hit $38 (from $26 currently).
- It’s benefiting from the NFT craze, plus growing exposure to the Metaverse.
Saber-toothed feeding frenzyChainlink bounced 5% in early Thursday trading and is already up over 12% for the week, after Solana’s favorite market maker Saber adopted its flagship price feeds.
- Chainlink is an ETH-based decentralized oracle network (DON) platform powered by the LINK token, and its feeds are an industry standard for crypto trading.
- DONs basically translate real-world data onto the blockchain – they’re intermediaries that help create hybrid smart contracts and decentralized services (like price feeds).
- The Saber adoption is a big deal – it’s the largest stablecoin exchange on the Solana platform, and back in July it raised $7.7m for a major scale-up.
Chainlink grinds into gearThe decentralized oracle network Chainlink is bouncing out of the long weekend all amped up for the week ahead, jumping just under 10% after seeing a bounce of just under 5% over the weekend.
Crypto bulls have got their eye on Chainlink, plugging it as a buy after seeing it gain strong ground recently. The crypto has been climbing for the past few weeks, gaining 20% from June 22 up to Tuesday’s close of $20.80.
Chainlink is a decentralized oracle network based on collectively developed open source technology first created in 2014 by crypto company SmartContract – though it didn’t actually launch until June 2017, and co-founders Steve Ellis and Sergey Nazarov didn’t publish Chainlink's white paper until September that year.
A blockchain-based crypto network providing a link between smart contracts and real world data, it offers a tradable token called LINK. The token debuted on Binance on September 28, 2017 at $0.16, and peaked at around $52 on May 9 2021, just before Elon took down most of the crypto market with a single tweet.
It looks like LINK is bouncing back though. Chainlink has been consolidating above the low range since June 22, and FXstreet analysts suggest that investors can expect volatile upwards movement as the price tightens, crashing through any resistance barriers it comes across.
Increased adoption has set the stage for a bull run, and Chainlink could be heading for a 51% upswing, so get ready.