Will Binance Oracle Hamper Chainlink Growth Amid The Bullish Run
Recently, the global leading crypto exchange Binance has created a record using Web 3. In addition, the giant crypto service provider recently unveiled its new decentralized Web 3 oracle network. The shift into Web 3 is skyrocketing gradually. More events, projects, applications, and activities are coming with more innovative additions. In addition, the new belief surrounding Web3 as the next future with greater possibilities fuels its popularity. Related Reading: Bitcoin Bearish Signal: Exchanges Receiving Large Deposits Will Chainlink Continue Leading The Game? This new project from....
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While the broader crypto market is currently trying to recover from the shock surrounding FTX and the accompanying fears of a contagion effect, Chainlink has recorded the highest price increase within the top-100 by market cap within the last 24 hours. At press time, the LINK price was up 6.2% from the previous day, trading at $8.71. Over the past seven days, Chainlink has even posting a whopping plus of around 13%. Trading volume has grown to $1.435 billion in the last 24 hours, up 161% from the previous day. Related Reading: Will Binance Oracle Hamper Chainlink Growth Amid The Bullish....
The oracle network’s exponential growth has been tied to the emergence of DeFi. Co-founder Sergey Nazarov said Chainlink is also powering metaverses. The total value secured by the Chainlink network has officially surpassed $75 billion, marking a new milestone for the decentralized oracle solution that has become synonymous with price data services for the rapidly growing DeFi sector. With the milestone, Chainlink has become “one of the most value securing forms of decentralized consensus on the planet,” according to protocol co-founder Sergey Nazarov. Chainlink is also one of the....
Polkadot has integrated with Chainlink to incorporate its oracle service into its multi-chain environment. Thus, the different teams building on Polkadot will be able to count on a “flexible and reliable” solution to feed parachains with information. Chainlink Price Feeds have been enabled as a Substrate Oracle pallet and can be accessed by any other […]
November is starting to be an uncertain month for the crypto market. However, Chainlink (LINK) seems to be bullish as it has kept substantial gains from last week. The altcoin also performed well earlier today, establishing a local high of $7.96. Chainlink’s price started a bullish trend after testing and confirming support at the $6.50 level. The price feed oracle token suffered a devastating October reversal, wiping away all of its September gains. However, it was able to recover around 6% before the month ended. Related Reading: These Key Factors Might Push Ethereum To Outplay Bitcoin....
Oracle projects like LINK, BAND and TRB are seeing bullish momentum as crypto startups intensify their focus on interoperability in 2022. 2022 looks to be a transformative year for the cryptocurrency ecosystem as the focus on interoperability between siloed blockchain networks comes to the forefront and a multitude of projects announce plans to interconnect their platforms with other protocols. One sector of the crypto ecosystem that will play a vital role in ensuring smooth communication and interaction between networks is oracles projects like Chainlink (LINK) and Band Protocol (BAND).....