ChainlinkUpdate
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Chainlink supply on exchanges shoots up, LINK holders realize over $150 million in profits. 🚀🚀🚀🚀
✨Chainlink on exchanges climbed to 230.43 million on Friday, up nearly 9% in a single day, per Santiment data.
✨LINK tokens flooded exchanges as holders rushed to take profits, realize over $150 million gains.
✨LINK whales with 10 million and 100 million tokens distributed their holdings while smaller cohorts accumulated.
Chainlink (LINK) supply on exchanges climbed to 230.43 million on June 21, a massive spike in a 24 hour period. Typically, an increase in the asset’s supply has a negative impact on price as it increases the selling pressure.
Whales holding between 10 million and 100 million LINK distributed their holdings, in the same timeframe, likely realizing profits.
LINK whales take profits, distribute their holdings on Friday
Data from crypto intelligence tracker Santiment shows that the supply of LINK on exchanges climbed nearly 9% in a single day, on June 21.
The massive increase in supply was accompanied by a spike in profit taking by LINK holders, as noted by the Network Realized Profit/Loss metric.
The NPL metric is used to identify the net profit/loss of all tokens sold on a given day. It shows a large positive spike on Friday, June 21, as seen in the chart below. This implies that traders flooded exchanges with LINK to take profits.
Whale activity in the same timeframe reveals key insights. The larger cohort that holds between 10 and 100 million LINK distributed their holdings and likely took profits while smaller cohorts holding between 100,000 to 1 million and 1 million to 10 million LINK accumulated the altcoin.
Whale activity supports the narrative of mass profit taking and a bearish thesis for LINK in case the profit taking continues and exchange supply rises.
#BinanceTournament #Megadrop #CryptoTradingGuide #ChainlinkUpdate #LINK🔥🔥🔥
✨Chainlink on exchanges climbed to 230.43 million on Friday, up nearly 9% in a single day, per Santiment data.
✨LINK tokens flooded exchanges as holders rushed to take profits, realize over $150 million gains.
✨LINK whales with 10 million and 100 million tokens distributed their holdings while smaller cohorts accumulated.
Chainlink (LINK) supply on exchanges climbed to 230.43 million on June 21, a massive spike in a 24 hour period. Typically, an increase in the asset’s supply has a negative impact on price as it increases the selling pressure.
Whales holding between 10 million and 100 million LINK distributed their holdings, in the same timeframe, likely realizing profits.
LINK whales take profits, distribute their holdings on Friday
Data from crypto intelligence tracker Santiment shows that the supply of LINK on exchanges climbed nearly 9% in a single day, on June 21.
The massive increase in supply was accompanied by a spike in profit taking by LINK holders, as noted by the Network Realized Profit/Loss metric.
The NPL metric is used to identify the net profit/loss of all tokens sold on a given day. It shows a large positive spike on Friday, June 21, as seen in the chart below. This implies that traders flooded exchanges with LINK to take profits.
Whale activity in the same timeframe reveals key insights. The larger cohort that holds between 10 and 100 million LINK distributed their holdings and likely took profits while smaller cohorts holding between 100,000 to 1 million and 1 million to 10 million LINK accumulated the altcoin.
Whale activity supports the narrative of mass profit taking and a bearish thesis for LINK in case the profit taking continues and exchange supply rises.
#BinanceTournament #Megadrop #CryptoTradingGuide #ChainlinkUpdate #LINK🔥🔥🔥
Toncoin (TON): Toncoin has been making waves with significant whale accumulation. This activity suggests that large investors are confident in its potential, driving interest and speculation in the market. The coin’s price has seen a steady increase, reflecting growing investor confidence1.
Chainlink (LINK): Chainlink continues to grow within the DeFi (Decentralized Finance) space. Its integration with various DeFi projects has bolstered its utility and demand. The recent surge in its price highlights its pivotal role in the blockchain ecosystem1.
Polkadot (DOT): Polkadot has experienced a notable surge, driven by its robust ecosystem and interoperability features. The coin’s ability to connect multiple blockchains seamlessly has attracted significant attention from developers and investors alike1.
Furrever Token (FURR): Furrever Token is gaining traction due to its unique referral opportunities. This token, aimed at pet lovers, has seen a spike in interest as more users engage with its community-driven initiatives1.
Market Insights:
The cryptocurrency market remains highly dynamic, with prices and trends shifting rapidly. It’s essential for investors to stay informed and conduct thorough research before making any investment decisions. The recent trends in Toncoin, Chainlink, Polkadot, and Furrever Token demonstrate the market’s volatility and the importance of staying updated with the latest developments.
#cryptotrends2023 #ToncoinSurge #ChainlinkUpdate #POLKADOTE #BinanceTournament
$BTC
$TRX
Stay tuned for more updates and insights into the world of cryptocurrencies. Remember, the crypto market can be unpredictable, so always invest wisely and stay informed! 🚀📈
Chainlink (LINK): Chainlink continues to grow within the DeFi (Decentralized Finance) space. Its integration with various DeFi projects has bolstered its utility and demand. The recent surge in its price highlights its pivotal role in the blockchain ecosystem1.
Polkadot (DOT): Polkadot has experienced a notable surge, driven by its robust ecosystem and interoperability features. The coin’s ability to connect multiple blockchains seamlessly has attracted significant attention from developers and investors alike1.
Furrever Token (FURR): Furrever Token is gaining traction due to its unique referral opportunities. This token, aimed at pet lovers, has seen a spike in interest as more users engage with its community-driven initiatives1.
Market Insights:
The cryptocurrency market remains highly dynamic, with prices and trends shifting rapidly. It’s essential for investors to stay informed and conduct thorough research before making any investment decisions. The recent trends in Toncoin, Chainlink, Polkadot, and Furrever Token demonstrate the market’s volatility and the importance of staying updated with the latest developments.
#cryptotrends2023 #ToncoinSurge #ChainlinkUpdate #POLKADOTE #BinanceTournament
$BTC
$TRX
Stay tuned for more updates and insights into the world of cryptocurrencies. Remember, the crypto market can be unpredictable, so always invest wisely and stay informed! 🚀📈
Top Crypto Presale in 2024
The crypto space is buzzing with excitement as MoonBag crypto raises over $2.2 million only in the presale stage. Apart from that, the coin promises locked liquidity of $3.5 million with 88% APY and 15,000% ROI.
Chainlink is not worth the investment for a variety of reasons. It’s right to call it a speculative token, which is why there’s no guarantee that it will stand the test of time. Chainlink announced staking for next year, but nobody would be surprised if there is a delay again. Since Chainlink has no utility in the ecosystem; therefore, if the expected institutional-great demand is not here, then the future of the token might go down the drain. Hence, investors should stay away from investing in the coin for now and head to the top crypto presale in 2024 of MoonBag.
Tron (TRX) is a centralized coin, as accused by the analysts. Only 50% of all TRX tokens are stored in different addresses. Moreover, just 15% of coins are in the market for private investments. Another factor raising concerns among investors is that Tron is in its initial development stage. The token has to evolve more to become investors' favorites. This is why it’s recommended to move to a more stable coin, such as MoonBag, which has sold over 50% of its coins in only its presale stage.
MoonBag is a meme coin that is gathering a lot of attention from investors. You can get an idea of its popularity from the fact that it raised over $2.2 million only in the presale stage. Early joiners can enjoy 15,000% ROI after the launch, while their investment currently stands at a 9,900% increment. MoonBag promised locked liquidity of $3.5 million, out of which $1 million will be pumped during the launch stage.
#Moonbaglist #TRXUpdate #ChainlinkUpdate #BNBHODLer #BinanceTournament
The crypto space is buzzing with excitement as MoonBag crypto raises over $2.2 million only in the presale stage. Apart from that, the coin promises locked liquidity of $3.5 million with 88% APY and 15,000% ROI.
Chainlink is not worth the investment for a variety of reasons. It’s right to call it a speculative token, which is why there’s no guarantee that it will stand the test of time. Chainlink announced staking for next year, but nobody would be surprised if there is a delay again. Since Chainlink has no utility in the ecosystem; therefore, if the expected institutional-great demand is not here, then the future of the token might go down the drain. Hence, investors should stay away from investing in the coin for now and head to the top crypto presale in 2024 of MoonBag.
Tron (TRX) is a centralized coin, as accused by the analysts. Only 50% of all TRX tokens are stored in different addresses. Moreover, just 15% of coins are in the market for private investments. Another factor raising concerns among investors is that Tron is in its initial development stage. The token has to evolve more to become investors' favorites. This is why it’s recommended to move to a more stable coin, such as MoonBag, which has sold over 50% of its coins in only its presale stage.
MoonBag is a meme coin that is gathering a lot of attention from investors. You can get an idea of its popularity from the fact that it raised over $2.2 million only in the presale stage. Early joiners can enjoy 15,000% ROI after the launch, while their investment currently stands at a 9,900% increment. MoonBag promised locked liquidity of $3.5 million, out of which $1 million will be pumped during the launch stage.
#Moonbaglist #TRXUpdate #ChainlinkUpdate #BNBHODLer #BinanceTournament
#Chainlink's #ChainlinkUpdate
What is Chainlink? Information about LINK Token
Chainlink is a decentralized Oracle network founded by Sergey Nazarov in 2017. Initially operating on the Ethereum blockchain, its primary function is to bridge the gap between smart contracts and external data sources, ensuring secure access to off-chain information for these contracts.
However, with the introduction of innovative products like the Verifiable Random Function (VRF), Automations, and the Cross-Chain Interoperability Protocol (CCIP), Chainlink has significantly expanded its capabilities beyond being a mere Oracle provider.
What Problems Does Chainlink Solve?
Smart contracts on the blockchain have a critical limitation: they need off-chain data to function effectively but cannot directly access this data due to the isolated nature of blockchain environments. This limitation significantly constrains their real-world applications.
To bring data onto the blockchain, the most common solution is through an Oracle—a middleware that fetches data from the outside world and brings it into the blockchain. However, relying on a single centralized Oracle poses the “Oracle problem,” where the smart contract’s outcome could be compromised or manipulated by that Oracle.
Chainlink addresses these challenges by constructing a sophisticated system comprising both on-chain and off-chain components:
On-Chain: This includes smart contracts and Oracles that handle user data requests.
Off-Chain: These are Oracle nodes operating outside the blockchain, connected to the Ethereum network. These nodes gather and process off-chain data before transmitting it on-chain via the Chainlink Core software.
Off-chain Oracle nodes are incentivized through the receipt of LINK tokens for their data collection and transmission services.
What is Chainlink? Information about LINK Token
Chainlink is a decentralized Oracle network founded by Sergey Nazarov in 2017. Initially operating on the Ethereum blockchain, its primary function is to bridge the gap between smart contracts and external data sources, ensuring secure access to off-chain information for these contracts.
However, with the introduction of innovative products like the Verifiable Random Function (VRF), Automations, and the Cross-Chain Interoperability Protocol (CCIP), Chainlink has significantly expanded its capabilities beyond being a mere Oracle provider.
What Problems Does Chainlink Solve?
Smart contracts on the blockchain have a critical limitation: they need off-chain data to function effectively but cannot directly access this data due to the isolated nature of blockchain environments. This limitation significantly constrains their real-world applications.
To bring data onto the blockchain, the most common solution is through an Oracle—a middleware that fetches data from the outside world and brings it into the blockchain. However, relying on a single centralized Oracle poses the “Oracle problem,” where the smart contract’s outcome could be compromised or manipulated by that Oracle.
Chainlink addresses these challenges by constructing a sophisticated system comprising both on-chain and off-chain components:
On-Chain: This includes smart contracts and Oracles that handle user data requests.
Off-Chain: These are Oracle nodes operating outside the blockchain, connected to the Ethereum network. These nodes gather and process off-chain data before transmitting it on-chain via the Chainlink Core software.
Off-chain Oracle nodes are incentivized through the receipt of LINK tokens for their data collection and transmission services.
Hong Kong fintech company RD Technologies
integrates Chainlink CCIP and Proof of Reserve protocols to support the HKDR stablecoin (backed 1:1 by the Hong Kong dollar) $LINK
#ChainlinkUpdate
integrates Chainlink CCIP and Proof of Reserve protocols to support the HKDR stablecoin (backed 1:1 by the Hong Kong dollar) $LINK
#ChainlinkUpdate
💰$LINK Chainlink's market value is up +14% in the last 8 hours, breaking away from the altcoin pack.
🗣️There are now 564 whales with a LINK capital of over 100 thousand, which is +4.6% in just 5 weeks. If social dominance calms down and FOMO doesn't take over, 🐂bullish conditions are ahead #link #ChainlinkUpdate #notcoin
🗣️There are now 564 whales with a LINK capital of over 100 thousand, which is +4.6% in just 5 weeks. If social dominance calms down and FOMO doesn't take over, 🐂bullish conditions are ahead #link #ChainlinkUpdate #notcoin
Chainlink has officially announced the general availability of its Chainlink Cross-Chain Interoperability Protocol (CCIP), according to a press release shared with BSCN. This launch allows developers to use CCIP to transfer tokens, send messages, and combine data and value transfers across different blockchains without needing permissions.
Now, developers can transfer ETH, USDC, and LINK tokens across supported networks, including Arbitrum, Avalanche, and Ethereum. The protocol supports programmable token transfers, a distinctive feature that adds flexibility to how transfers occur.
#chainlink #ChainlinkUpdate #ChainlinkAnalysis
Now, developers can transfer ETH, USDC, and LINK tokens across supported networks, including Arbitrum, Avalanche, and Ethereum. The protocol supports programmable token transfers, a distinctive feature that adds flexibility to how transfers occur.
#chainlink #ChainlinkUpdate #ChainlinkAnalysis
🚨🚨It Starts Tomorrow! This Altcoin Is Moving To The Revolutionary Phase
The highly anticipated transition period for the so-called staking v0.2 version of Chainlink will start tomorrow. This will bring a series of opportunities for LINK owners. During the first nine days of ‘Priority Transition Period’, eligible stakers will be able to stake up to 15 thousand LINKS. They will also be able to secure their entry into the updated stake protocol. Beyond this particular phase, stakers with Early Access have a four-day time to get their chances. In addition, there will be access for other stakers on December 11.
Examining the technical appearance of Chainlink (LINK), a compelling formation emerged in the daily chart: a symmetric triangle. This pattern, which is usually indicative of an impending break, prepares the ground for potential price increases in the near future.
If LINK makes a strong upward movement by breaking the $14,825 resistance level, it could identify it as a newly discovered support. A daily candle closing above this threshold could push LINK towards $17,685 and signal an uptrend trajectory.
$LINK #ChainlinkUpdate #staketoearn #dyor
The highly anticipated transition period for the so-called staking v0.2 version of Chainlink will start tomorrow. This will bring a series of opportunities for LINK owners. During the first nine days of ‘Priority Transition Period’, eligible stakers will be able to stake up to 15 thousand LINKS. They will also be able to secure their entry into the updated stake protocol. Beyond this particular phase, stakers with Early Access have a four-day time to get their chances. In addition, there will be access for other stakers on December 11.
Examining the technical appearance of Chainlink (LINK), a compelling formation emerged in the daily chart: a symmetric triangle. This pattern, which is usually indicative of an impending break, prepares the ground for potential price increases in the near future.
If LINK makes a strong upward movement by breaking the $14,825 resistance level, it could identify it as a newly discovered support. A daily candle closing above this threshold could push LINK towards $17,685 and signal an uptrend trajectory.
$LINK #ChainlinkUpdate #staketoearn #dyor
@Chainlink whale holding graph shows that over 52% of LINK is held by whales. Does this concentration make Chainlink a reliable project, or does it raise concerns?
#ChainlinkUpdate #Chainlink #ChainlinkPotential #BinanceSquareWritingContest
#ChainlinkUpdate #Chainlink #ChainlinkPotential #BinanceSquareWritingContest
#Chainlink Staking v0.2 is launching this year ⬡
Mark these dates on your calendar ✏️🗓️
• Priority Migration: November 28, 2023 at 12PM ET
• Early Access: December 7, 2023 at 12PM ET
• General Access: December 11, 2023 at 12PM ET
source- https://twitter.com/chainlink/status/1722630327720726886?t=ZzeK_-C-ZAIiU12rxKqThQ&s=19
#BTC #ChainlinkPotential #ChainlinkUpdate #etf #dyor
Mark these dates on your calendar ✏️🗓️
• Priority Migration: November 28, 2023 at 12PM ET
• Early Access: December 7, 2023 at 12PM ET
• General Access: December 11, 2023 at 12PM ET
source- https://twitter.com/chainlink/status/1722630327720726886?t=ZzeK_-C-ZAIiU12rxKqThQ&s=19
#BTC #ChainlinkPotential #ChainlinkUpdate #etf #dyor
Chainlink is launching the Chainlink Block Magic Hackathon, aimed at first-time developers, offering a unique opportunity to immerse themselves in blockchain application coding.
#Chainlink #BullorBear #link #ChainlinkUpdate
#Chainlink #BullorBear #link #ChainlinkUpdate
Chainlink: Bridging Smart Contracts and Real-World Data with Decentralized Oracles
Exposition:
1. Overview:
Chainlink serves as a decentralized oracle network connecting smart contracts to real-world data.
2. Decentralized Node Network:
A network of decentralized nodes ensures data accuracy, minimizing the risk of manipulation and providing reliable information.
3. LINK Token:
The native LINK token plays a crucial role in incentivizing node operators, enabling governance, and facilitating payments within the Chainlink ecosystem.
4. Impact on DeFi:
Chainlink has significantly influenced the decentralized finance (DeFi) sector by providing essential price feeds and market data for smart contracts.
5. Blockchain-Agnostic Approach:
Chainlink's design allows it to be integrated with various blockchain platforms, promoting cross-chain compatibility.
6. Applications Across Industries:
Beyond finance, Chainlink finds applications in industries such as insurance, gaming, and supply chain management, expanding the use of smart contracts.
7. Partnerships and Integration:
Chainlink has formed strategic partnerships with various projects and blockchain platforms, enhancing its ecosystem by integrating with different networks and expanding its reach.
8. Use Cases Beyond DeFi:
Chainlink's oracles are not limited to DeFi; they find applications in diverse sectors. Examples include insurance, where smart contracts can respond to real-world events, and supply chain management, ensuring transparency and accuracy.
9. Community and Governance:
Chainlink's community plays a vital role in its governance. The decentralized nature allows token holders to participate in decision-making, ensuring a democratic and community-driven evolution of the protocol.
In summary, Chainlink's decentralized oracle network, supported by the LINK token, has a broad impact on DeFi and extends its applications across diverse industries.
$LINK
#crypto #ChainlinkUpdate
Exposition:
1. Overview:
Chainlink serves as a decentralized oracle network connecting smart contracts to real-world data.
2. Decentralized Node Network:
A network of decentralized nodes ensures data accuracy, minimizing the risk of manipulation and providing reliable information.
3. LINK Token:
The native LINK token plays a crucial role in incentivizing node operators, enabling governance, and facilitating payments within the Chainlink ecosystem.
4. Impact on DeFi:
Chainlink has significantly influenced the decentralized finance (DeFi) sector by providing essential price feeds and market data for smart contracts.
5. Blockchain-Agnostic Approach:
Chainlink's design allows it to be integrated with various blockchain platforms, promoting cross-chain compatibility.
6. Applications Across Industries:
Beyond finance, Chainlink finds applications in industries such as insurance, gaming, and supply chain management, expanding the use of smart contracts.
7. Partnerships and Integration:
Chainlink has formed strategic partnerships with various projects and blockchain platforms, enhancing its ecosystem by integrating with different networks and expanding its reach.
8. Use Cases Beyond DeFi:
Chainlink's oracles are not limited to DeFi; they find applications in diverse sectors. Examples include insurance, where smart contracts can respond to real-world events, and supply chain management, ensuring transparency and accuracy.
9. Community and Governance:
Chainlink's community plays a vital role in its governance. The decentralized nature allows token holders to participate in decision-making, ensuring a democratic and community-driven evolution of the protocol.
In summary, Chainlink's decentralized oracle network, supported by the LINK token, has a broad impact on DeFi and extends its applications across diverse industries.
$LINK
#crypto #ChainlinkUpdate
DO NOT UNDERVALUE $AVAX ! ⚠️ Here Is Why 👇🔥
ANZ (Australia and New Zealand Banking Group), together with Chainlink ($LINK ) partnered up to integrate Avalanche into their digital asset trading platform. That's a massive integration because it shows how banks are using new technologies to improve people experience in trading assets like stocks or cryptocurrencies. In addition, thanks to AVAX integration, transactions will be faster, dynamic (e.g. obtaining a tokenized New Zealand dollar stablecoin through Avalanche) and more efficient!
In my opinion, this collaboration reflects a growing trend of merging traditional finance with decentralized systems. The future of finance is becoming more digital and more bank/companies will jump on board in the near future!
STAY TUNED! 💪
#AvalancheUpdate #AvalancheAVAX #ChainlinkPotential #ChainlinkUpdate #BlockchainLeaders
ANZ (Australia and New Zealand Banking Group), together with Chainlink ($LINK ) partnered up to integrate Avalanche into their digital asset trading platform. That's a massive integration because it shows how banks are using new technologies to improve people experience in trading assets like stocks or cryptocurrencies. In addition, thanks to AVAX integration, transactions will be faster, dynamic (e.g. obtaining a tokenized New Zealand dollar stablecoin through Avalanche) and more efficient!
In my opinion, this collaboration reflects a growing trend of merging traditional finance with decentralized systems. The future of finance is becoming more digital and more bank/companies will jump on board in the near future!
STAY TUNED! 💪
#AvalancheUpdate #AvalancheAVAX #ChainlinkPotential #ChainlinkUpdate #BlockchainLeaders
Hey $LINK fam! Remember that awesome Chainlink feature, Proof-of-Reserve (PoR), we mentioned last time? It's a game-changer for tokenized assets.
Let's break it down! 💪💻👇
RWAs are hot! Imagine owning a digital piece of a fancy building with friends. Cool, right? But before you dive in, there are risks. The value of the real stuff (like gold) backing the token could change, or worse, someone could mint more tokens than there's actual stuff to back them up. Yikes!
That's where Chainlink's PoR swoops in like a superhero! It acts as a super-reliable checker, verifying the real-world stuff that backs these digital tokens. It uses a network of experts to confirm everything's legit, creating a clear and transparent record for everyone.
Here's the magic: PoR can even talk to other blockchains and those fancy "custodian APIs" (think high-tech vaults) to gather all the info it needs. It then uses this info to automatically warn people if the risk gets too high, like a financial fire alarm.
So, what's the benefit? 🤔PoR empowers asset managers with a clear picture of risks, helping them make smarter decisions. It also prevents things from going south by stopping the minting of new tokens if the value of the real stuff gets too low. Think of it as a safety net for the whole system!
Chainlink's PoR basically makes tokenized assets safer and more reliable for everyone. Pretty neat, huh? Now you can invest in those fancy digital buildings with confidence! #LINK #ChainlinkUpdate #BullorBear
Learn more how Chainlink unlocks the real potential of tokenized assets. Check out link in a comment below.
Let's break it down! 💪💻👇
RWAs are hot! Imagine owning a digital piece of a fancy building with friends. Cool, right? But before you dive in, there are risks. The value of the real stuff (like gold) backing the token could change, or worse, someone could mint more tokens than there's actual stuff to back them up. Yikes!
That's where Chainlink's PoR swoops in like a superhero! It acts as a super-reliable checker, verifying the real-world stuff that backs these digital tokens. It uses a network of experts to confirm everything's legit, creating a clear and transparent record for everyone.
Here's the magic: PoR can even talk to other blockchains and those fancy "custodian APIs" (think high-tech vaults) to gather all the info it needs. It then uses this info to automatically warn people if the risk gets too high, like a financial fire alarm.
So, what's the benefit? 🤔PoR empowers asset managers with a clear picture of risks, helping them make smarter decisions. It also prevents things from going south by stopping the minting of new tokens if the value of the real stuff gets too low. Think of it as a safety net for the whole system!
Chainlink's PoR basically makes tokenized assets safer and more reliable for everyone. Pretty neat, huh? Now you can invest in those fancy digital buildings with confidence! #LINK #ChainlinkUpdate #BullorBear
Learn more how Chainlink unlocks the real potential of tokenized assets. Check out link in a comment below.
LIVESilentrocket
--
Buckle up, 🎢 Chainlink fam! Sergey Nazarov, $LINK 's co-founder, just dropped some serious knowledge bombs about their strategic position in capital markets for 2024.
Let's unpack the key takeaways:🤓🔎📚
(1) Data & Connectivity Boss: #LINK wanna be the king 👑 of secure data and connections for blockchains.
(2) Fixing Fragmentation: Chainlink's infrastructure can bridge the gap between old and new finance.🌉
(3) Smart Contract Upgrade: Imagine contracts with built-in asset data, thanks to Chainlink!
(4) Future-Proof Payments: Stablecoins, tokenized deposits, and even central bank digital currencies - Chainlink's got it covered.
(5) Blockchain for All: They see themselves as the key to unlocking blockchain's potential in finance, making it more accessible.
Stay informed. DYOR! 💪💻#BinanceLaunchpool #BTC #Chainlink
Let's unpack the key takeaways:🤓🔎📚
(1) Data & Connectivity Boss: #LINK wanna be the king 👑 of secure data and connections for blockchains.
(2) Fixing Fragmentation: Chainlink's infrastructure can bridge the gap between old and new finance.🌉
(3) Smart Contract Upgrade: Imagine contracts with built-in asset data, thanks to Chainlink!
(4) Future-Proof Payments: Stablecoins, tokenized deposits, and even central bank digital currencies - Chainlink's got it covered.
(5) Blockchain for All: They see themselves as the key to unlocking blockchain's potential in finance, making it more accessible.
Stay informed. DYOR! 💪💻#BinanceLaunchpool #BTC #Chainlink
Chainlink announced that it will launch Staking V0.2 version within 3 days.
#ChainlinkUpdate #Chainlink
#ChainlinkUpdate #Chainlink
Chainlink (LINK) Experiences 7.5% Price Surge Anticipating a Major Rally
Chainlink on-chain data flashes signs of growth as the number of active addresses within the Chainlink network has increased from 2,900 on May 18 to 11,300 on May 21. LINK costs $22.
Oracle service provider Chainlink has largely decoupled from the broader market correction, up more than 6% in the past 24 hours.
As of press time, Chainlink (LINK) is trading near its key resistance of $17.5 and its market cap has surpassed $10.1 billion. Additionally, the daily trading volume for LINK has also increased by 80% to $858 million.
Chainlink On-Chain Data Flashes Bullish Signal
According to insights from on-chain data provider Santiment, Chainlink (LINK) has emerged as one of the top performers in the cryptocurrency market, crossing the $17.50 mark for the first time in six weeks.
Today’s on-chain analysis reveals a striking trend: for every one Chainlink transaction recorded in a loss, there are 11 transactions showing a profit. This remarkable ratio marks the highest level observed since December 8, 2022, indicating a strong bullish sentiment around Chainlink’s recent price movements.
This Breakout Can Trigger Major Surge for LINK Price
The current Chainlink price is facing resistance due to the daily bearish order block, where key market participants have historically placed sell orders at $17.58.
This resistance level coincides with the weekly resistance barrier at $16.48. A failure by buyers to push LINK’s price higher could potentially trigger a pullback. In such a case, an analysis of the Volume Profile indicator shows that a significant volume of trade has taken place around $14.62, indicating a possible support for the expected correction.
Notably, this level closely aligns with the 61.8% Fibonacci retracement level, offering an attractive accumulation zone for a possible second bullish leg.
A recent surge in bullish sentiment following the approval of the Ethereum Spot ETF has fueled optimism. If Chainlink finds support near $14.62, it could signal an 18% rally to retest the $17.58 daily order block.
In an extremely optimistic scenario, a successful breach of this resistance level could push the price of Chainlink to $22, marking a cumulative gain of 50%, amid the Chainlink Wheel rally.
Even with strong technical analysis and on-chain data supporting Chainlink’s potential, a weekly candlestick below $13.59 would negate the bullish outlook by forming a low on a higher time frame.
Such a scenario could result in a 13% drop in LINK’s price, potentially leading it to a key support level at $11.80.
Additionally, on-chain data also shows improvements for Chainlink. The number of active addresses within the Chainlink network has grown significantly, increasing from 2,900 on May 18 to 11,300 on May 21. This remarkable increase indicates the growing demand for the Chainlink platform.
#ChainlinkUpdate #cryptupdates #newsdaily $LINK
Oracle service provider Chainlink has largely decoupled from the broader market correction, up more than 6% in the past 24 hours.
As of press time, Chainlink (LINK) is trading near its key resistance of $17.5 and its market cap has surpassed $10.1 billion. Additionally, the daily trading volume for LINK has also increased by 80% to $858 million.
Chainlink On-Chain Data Flashes Bullish Signal
According to insights from on-chain data provider Santiment, Chainlink (LINK) has emerged as one of the top performers in the cryptocurrency market, crossing the $17.50 mark for the first time in six weeks.
Today’s on-chain analysis reveals a striking trend: for every one Chainlink transaction recorded in a loss, there are 11 transactions showing a profit. This remarkable ratio marks the highest level observed since December 8, 2022, indicating a strong bullish sentiment around Chainlink’s recent price movements.
This Breakout Can Trigger Major Surge for LINK Price
The current Chainlink price is facing resistance due to the daily bearish order block, where key market participants have historically placed sell orders at $17.58.
This resistance level coincides with the weekly resistance barrier at $16.48. A failure by buyers to push LINK’s price higher could potentially trigger a pullback. In such a case, an analysis of the Volume Profile indicator shows that a significant volume of trade has taken place around $14.62, indicating a possible support for the expected correction.
Notably, this level closely aligns with the 61.8% Fibonacci retracement level, offering an attractive accumulation zone for a possible second bullish leg.
A recent surge in bullish sentiment following the approval of the Ethereum Spot ETF has fueled optimism. If Chainlink finds support near $14.62, it could signal an 18% rally to retest the $17.58 daily order block.
In an extremely optimistic scenario, a successful breach of this resistance level could push the price of Chainlink to $22, marking a cumulative gain of 50%, amid the Chainlink Wheel rally.
Even with strong technical analysis and on-chain data supporting Chainlink’s potential, a weekly candlestick below $13.59 would negate the bullish outlook by forming a low on a higher time frame.
Such a scenario could result in a 13% drop in LINK’s price, potentially leading it to a key support level at $11.80.
Additionally, on-chain data also shows improvements for Chainlink. The number of active addresses within the Chainlink network has grown significantly, increasing from 2,900 on May 18 to 11,300 on May 21. This remarkable increase indicates the growing demand for the Chainlink platform.
#ChainlinkUpdate #cryptupdates #newsdaily $LINK
