According to a new announcement, Chainlink Functions is now live on the Avalanche Fuji testnet. Chainlink Functions, a serverless developer platform that enables anyone to quickly connect a smart contract to any Web2 API, allows Web3 and Web2 integrations.

Developers of smart contracts using the Avalanche ecosystem may now quickly integrate Web2 APIs and cloud services into their smart contracts by using Chainlink Functions. This implies that any Web2 API can now be brought onto Avalanche, thanks to Chainlink Functions.

#Chainlink Functions is now live on Avalanche Fuji testnet!@Avax developers can now securely connect the world's APIs to their smart contracts in minutes. See how Functions unlocks a new wave of smart contract development on Avalanche ⬇️ https://t.co/LZr5V5HiFt

— Chainlink (@chainlink) May 5, 2023

Prior to today, Web3 developers were unable to use their smart contracts to access social media signals, AI computation, messaging services and other services by connecting them to current Web2 APIs.

For the Avalanche ecosystem, the inclusion of Chainlink Functions opens up a wide range of new smart contract use cases since it makes it simpler for developers to connect Web3 apps with Web2 data sources.

Alibaba Cloud set to enter metaverse on Avalanche

In further big news for Avalanche, the cloud subsidiary of Chinese tech giant Alibaba is creating a launchpad for enterprises to deploy metaverses on the Avalanche blockchain.

Today, @alibaba_cloud announced that they are entering the metaverse--on Avalanche! With Cloudverse, Alibaba Cloud's millions of clients can easily deploy custom metaverses and unlock new dimensions for consumers.#Avalanche will provide all blockchain elements for Cloudverse👇 pic.twitter.com/AlibhHjidN

— Avalanche 🔺 (@avax) May 4, 2023

The launchpad, known as Cloudverse, is designed to offer businesses a complete platform to maintain and modify their metaverse spaces as they look for new ways to interact with their clients.

"With Cloudverse, Alibaba Cloud's millions of clients can easily deploy custom metaverses and unlock new dimensions for consumers," Avalanche stated in a tweet.

Per the collaboration, Alibaba Cloud will supply the computing power and storage, and Avalanche will supply the technology for creating the metaverse locations.

#avalanche #chainlink #crypto2023 #crypto #Binance

Chainlink (LINK) is rising after trading sideways on the daily candle and it’s trading at $7.77. Despite the current price drop, it has retained most of its gains in the year 2023. 

Currently, the general crypto market is also experiencing a slight retracement. However, the seven-day gains remain positive for the top 20 cryptocurrencies.

LINK Price Prediction

LINK has formed a red candle on the daily chart today. Despite the price pullback on the daily chart, it is still in an uptrend. LINK is still trading above its 50-day and 200-day Simple Moving Averages (SMA), a bullish signal for the asset in the short and long term.

Also, its Relative Strength Index (RSI) is 59.08, which shows price neutrality. It implies that the bears and bulls are evenly matched in today’s market. However, the RSI points downwards, indicating pressure from the bears and the possibility of further decline.

LINK’s Moving Average Convergence/Divergence (MACD) is above its signal line and showing positive values, a bullish sentiment for the asset. Also, the histogram bars are green, confirming the bullish sentiment.

Chainlink (LINK) is down today as the bulls seek to rally again. However, its SMA and MACD indicate that the price will likely rise again. 

Recent Trends On The Chainlink Ecosystem

Interesting trends in the Chainlink ecosystem could help boost its price. Here are some of the top trends.

Chainlink Spring Hackathon 2023

The Chainlink Hackathon event will kick off on April 28 and run until June 9, 2023. It is an initiative to reward developers and give back to the growing Chainlink community. It features diverse categories such as NFTs and gaming, Artificial Intelligence (AI), DAO, and a grand prize of $25,000.

Hackathons have gained popularity across various crypto projects as developers and coders are invited to social coding events. These events unite great minds to collaborate on projects benefiting the crypto community.

Chainlink Introduces NFTFi

NFTFi is a new concept that combines NFTs and Decentralized Finance (DeFi). The aim is to add value and liquidity to the NFT market. Chainlink adopted this technology to enable NFT lending and borrowing. NFT holders can lock their digital assets as collateral to unlock liquidity for another digital asset. 

Such individuals become eligible to borrow digital assets by paying interest to lenders. This innovation highlights why Chainlink has performed well in 2023 and is set for further price increases as long as more traders gain interest and actively trade the tokens.

#chainlink #LINK #Binance #crypto2023 #BTC

The cryptocurrency market has experienced a notable increase in buying pressure, largely influenced by macroeconomic events like the recent US debt ceiling deal. This recovery has prompted several crypto coins to regain lost ground and embark on a path towards growth. Today, we will examine the leading cryptocurrencies exhibiting a bullish pattern, suggesting significant potential for substantial growth during the anticipated recovery rally in June.

DOGECOIN(DOGE)

During a phase of market volatility, Dogecoin's price has been displaying a sideways movement, oscillating between the levels of $0.075 and $0.069. Noteworthy is the fact that on May 25th, the price of Dogecoin experienced a bounce-back from the support zone around $0.069.

As the double bottom pattern develops, there is a strong likelihood of an upward surge in the bullish momentum, pushing the price even higher towards the immediate resistance level of $0.0755. This resistance acts as both the neckline resistance of the chart pattern and the upper boundary of an ongoing consolidation phase.

SOLANA(SOL)

Over the past five weeks, the Solana price has been confined within a wedge pattern, with two converging trend lines dictating its movement. The gradual narrowing of these trend lines suggests a decline in selling pressure and a potential shift towards buyers regaining control.

On May 27th, Solana experienced a significant breakout above the resistance trendline of the pattern, signalling a shift in market sentiment towards the positive. Currently, the SOL price is trading at $20.70, representing a minor intraday loss of 1.00%.

If the price manages to sustain above the breached trendline, it opens up the possibility for buyers to propel the price towards potential targets of $24 or $27.

CHAINLINK(LINK)

During the recent period of volatility in the cryptocurrency market, the Chainlink price found reliable support at $6.10, forming a strong base. This support level has facilitated the formation of a double bottom pattern on the daily time frame chart.

The double bottom pattern typically generates bullish momentum and often triggers a significant rally when the price breaks above its resistance neckline. Currently, Chainlink is trading at $6.50, but based on the influence of this pattern, it is expected to reach the overhead resistance at $6.70.

If buyers successfully manage to convert this resistance into support, it could propel the altcoin's price to rise by another 10% and reach the $7.50 level. Further targets include $8.60 and $9.50.

#coingabbar #dogecoin #solana #sol #chainlink

We’re excited to announce that Gravity Finance have created a first-in-class DeFi automation product called ‘Silos’. Powered by Chainlink Automation, it’s live on Polygon mainnet from today.

Silos; Automated DeFi

We are leveraging Chainlink Automation to securely and cost-efficiently trigger the execution of DeFi tasks. As a result, Silos will seamlessly manage advanced DeFi strategies and tasks on behalf of their owner, through reliable automation.

Silos allow users to deploy personalised and fully automated DeFi tasks in seconds. Users can deploy a Silo (Smart Contract) from a catalogue of predefined strategies built by the Gravity team.

As the name suggests, user-funds are not pooled together in community vaults, they are “Siloed” in personally owned Smart Contracts (ERC-721). Since each Silo is individually deployed and owned, the Silo owner can customise certain parameters within their deployment, allowing for further customisation and personalised strategies.

Advanced users can even deploy multiple Silos from the strategy-catalogue and then link them together to create even more complex flows, all through an intuitive user-interface and without any coding experience required!

Why Chainlink?

We decided to use Chainlink Automation to power the Silos automation functions because it is the most reliable and decentralised Web3 automation service available. Chainlink Automation monitors each block on the Polygon network and triggers predefined strategies to execute, if and when required. For non-critical tasks, users can set their strategies to update on a pre-set schedule, such as hourly, daily, weekly etc.

A prime example of monitored execution is our collateralised loan Silo strategies. Using Chainlink Automation, which monitors each block and executes on chain if required, a Silo’s Collateral to Debt (CTD) ratio is constantly monitored and automatically rebalanced if the collateral value falls outside of a predefined value.

This Active Risk Management (ARM), developed by Gravity, allows users to “set and forget”, safe in the knowledge that the Silo will automatically rebalance a loans position to bring it back to a healthy balance, thereby avoiding liquidation events.

About Chainlink Automation

Users must maintain a LINK balance in their “Silo Manager” to pay for Silos transactions on chain. The battle-tested infrastructure of Chainlink helps ensure that every strategy is executed on time in a trust-minimised manner, giving users additional guarantees that it will function as intended.

Chainlink Automation is a decentralised service purpose-built to manage tasks on behalf of smart contracts. Chainlink Automation leverages decentralised, hyper-reliable, and economically incentivized automation nodes to wake up smart contracts when they need to perform critical on-chain functions, which usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when an asset hits a specific price).

Some of the notable features of Chainlink Automation include:

Highly reliable, performant, and decentralised automation — Chainlink Automation ensures transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager.

Time-tested infrastructure that helps save costs — Chainlink Automation enables us to eliminate in-house automation infrastructure costs, reduce resources spent on DevOps, and increase speed and efficiency.

Built to enable faster scaling — Chainlink Automation enables us to scale faster and avoid the challenges that come with building and maintaining the infrastructure needed to reliably automate across multiple chains.

Unlocks new use cases — With smart contract automation, we’re able to explore new use cases and unlock capabilities that would otherwise not have been possible.

“We’re excited to be using Chainlink Automation to help users automate DeFi. By enabling end-to-end decentralisation, users are able to leverage the security and reliability benefits of industry-standard Web3 infrastructure and optimise their DeFi trading strategies and tasks.”

— GravityFi_D at Gravity Finance.

#chainlink #DeFi #silos #gravityfinance #Binance

Chainlink (LINK), a leading decentralized oracle network, has been gaining significant attention in the cryptocurrency community in recent times. As a crucial player in bridging smart contracts with real-world data, Chainlink's innovative technology has garnered a dedicated following among developers, investors, and enthusiasts alike. This article explores the recent surge in social media volume surrounding Chainlink (LINK) and delves into the factors contributing to the growing interest in the project.

Social Media Buzz:

Over the past few weeks, Chainlink (LINK) has experienced a substantial increase in social media volume. Various social media platforms such as Twitter, Reddit, Telegram, and Discord have seen a surge in discussions related to Chainlink's technology, market trends, and community engagement. This heightened activity indicates that the cryptocurrency has captured the attention of a broader audience.

Growing Community Engagement:

The rise in social media volume can be attributed to Chainlink's expanding and active community. As a decentralized network, Chainlink fosters an inclusive ecosy tem that encourages developers and users to actively participate in discussions, share insights, and explore the project's capabilities. This community-driven approach has led to increased engagement on social media platforms, amplifying the visibility of Chainlink's developments and achievements.

Integration with DeFi Ecosys  tem:

Chainlink's impressive adoption within the decentralized finance (DeFi) space has been a major catalyst for the surge in social media activity. As DeFi continues to revolutionize the financial landscape, Chainlink's decentralized oracles play a vital role in providing accurate and reliable data to power smart contracts. This integration with various DeFi protocols has further strengthened Chainlink's position as a critical infrastructure provider in the blockchain industry.

Partnerships and Collaborations:

Chainlink's strategic partnerships with prominent blockchain projects and traditional enterprises have also contributed to the growing social media buzz. Collaborations with major players in various industries, such as finance, supply chain, and gaming, have demonstrated the versatility and real-world applicability of Chainlink's oracle solutions. These partnerships have sparked discussions across social media platforms, further driving interest in the project.

Price Momentum and Market Sentiment:

Chainlink's strong price performance and positive market sentiment have added to the increased social media activity. As the cryptocurrency market experiences bullish momentum, investors and traders are closely monitoring Chainlink's price movements. Positive price action often results in more chatter on social media platforms, as users express their views, share analysis, and discuss potential price targets.

Chainlink's growing social media volume is a testament to the project's rising prominence in the blockchain industry. As the adoption of smart contracts and DeFi applications continues to expand, Chainlink's decentralized oracle network plays a critical role in providing reliable data to power these innovative solutions. The project's vibrant community, strategic partnerships, and continuous technological advancements have propelled Chainlink to the forefront of the crypto space.

Investors and enthusiasts are advised to stay informed and exercise due diligence before making any investment decisions. While social media discussions can provide valuable insights, they should be supplemented with thorough research and analysis from reliable sources. As Chainlink's journey continues, its expanding social media presence signifies the growing interest and confidence in the project's long-term potential.

#bykaranteli #Binance #chainlink