Oracle tokens turn bullish as blockchain projects focus on interoperability
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).....
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Following the boom of non-fungible tokens (NFT) tied to NFT marketplaces and tools, oracle-based tokens are now seeing their valuations rise. During the last seven days, a number of oracle tokens have seen steep gains between 7% to even 45%. Oracles Token Projects See Seven Day Gains Jump Not too long ago, tokens associated with NFT markets and tools saw prices soar amid the non-fungible token hype. Just recently, Bitcoin.com’s newsdesk reported on the decline in NFT sales and NFT interest has dropped in recent times as well. Following the NFT-related pump, a great number of oracle....
“High-quality market data is vital to the growth of the multi-chain ecosystem,” says Chainlink co-founder Sergey Nazarov. Crypto market-making firm GSR has partnered with Chainlink to contribute price data to decentralized oracle networks (DONs) to be used within decentralized finance (DeFi) and smart contract applications, highlighting that the blockchain industry is moving forward to interoperability and more cross-platform compatibilities.In an announcement, Sergey Nazarov, the co-founder of Chainlink, said that “high-quality market data is vital to the growth of the multi-chain....
The crypto world’s leading oracle solution is integrating with its leading interoperability blockchain. RioDeFi, the decentralized finance blockchain connected to Polkadot, has revealed that Chainlink’s price oracles are to provide market data across its network. The deal means that projects building on RioDeFi, including MANTRA DAO, will be able to access decentralized and tamper-proof price […]
Oracle tokens gain traction as cross-chain interoperability and new developments in the DeFi sector lure investors away from Bitcoin and NFTs. Nonfungible tokens (NFTs) have been the talk of the town over the past few months, but as the start of the second quarter gets underway for the global financial markets, it possible that traders may start looking for opportunities in other parts of the crypto market. Oracle projects are one sub-sector that has been making moves over the past few weeks as some traders shift their focus away from NFTs.BAND/USDT vs. API3/USDT vs. DIA/USDT 1-day chart.....
Chain Joins Industry-Academia Blockchain Initiative to Solve Interoperability and Scalability Issues
Chain Inc., a blockchain company specializing in enterprise software for financial firms, has joined the Initiative for Cryptocurrency and Contracts (IC3) to advance blockchain development for the financial services industry and "ensure cross-industry interoperability and harmonization." Chain has identified several specific projects on which the company will collaborate with IC3. These projects focus on blockchain scalability, privacy and interoperability, Chain CEO and Co-Founder Adam Ludwin told Bitcoin Magazine. IC3 currently works on 13 projects that are aimed at solving....