$LINK
Recently, I had been reading about lots of news regarding #LINK 'Chainlink'.
Now, When it comes to investing, I'm not a fan of recommending a coin that was already pumped, as joining late will only result in paying others for their early investment.
But I want to just tell you about what Chainlink does, it's is a blockchain oracle.
oracles are crucial because blockchains can’t communicate with the outside world, They also can’t talk to each other, That’s where oracles come to the rescue.
Oracles can provide real-world and real-time data to blockchains. For example, exchange rates, sports results, or weather information.
In this sector, Chainlink is the clear leader. Its market cap is 11x bigger than Pyth, which ranks at second spot. Chainlink recently also saw an increased interest in its project.
Trump’s new DeFi project, World Liberty Financial (WLFI), bought $1 million worth of #Link , that's a total of 41,335 Links, this had resulted in whales buying more of the coin and the price went from $24.20 to $28.14 in only a few hours yesterday.
The real question is, why did World Liberty buy this $LINK ?
To answer this, we need to go back about a month. In mid-November, WLFI announced theintegration of chainlink into their price feeds, something that DeFi projects need, as I explained earlier.
So, looking at it from this point of view, buying Link makes sense for WLFI.
Also, if you remember Justin Sun - the CEO of Tron $TRX - he became an adviser for WLFI, He also invested $30 million in WLFI.
Some forecasters are predicting that LINK will reach over 100$ by next year, but it's too early to tell, as chainlink has some worthy competitors like cardano 'ADA' and POL 'Aka Matic'.
This doesn't mean that you go buy it for the short term profit, but if the market dips, #LINK can be one of your picks.
