Chainlink (LINK) is reaching a new all-time high as more and more projects take advantage of its technology.
Dogecoin is currently breaking all records, but projects with a more serious background than DOGE can also look forward to strong price increases these days. Right at the forefront: Chainlink (LINK). The token of the decentralized Oracle network of the same name also set an all-time high on May 5, surpassing the US $ 50 mark for the first time. At the time of going to press, LINK is trading at USD 48.58 again, up 13.7 percent in a 24-hour comparison. With a market capitalization of USD 20.1 billion, Chainlink has moved up to rank 12 among the largest cryptocurrencies by market capitalization.
The positive development of the Chainlink course corresponds in time to a series of messages that testify to the growth of the Chainlink ecosystem. More and more projects are using Chainlink to feed their smart contracts with off-chain data. On the one hand, this involves reliable price data for projects in the field of decentralized finance (DeFi). Because Chainlink is in principle compatible with every network, the cooperation is by no means limited to Ethereum-based projects. Chainlink announced, among other things, new partnerships with the decentralized exchange (DEX) WOWswap, which will take place at BinanceSmart Chain (BSC) builds up. Other DeFi projects that have recently relied on price data from Chainlink include Bonded Finance and the Polkadot-based Exchange Conversation.
In addition to the decentrally determined price data, another Chainlink technology is enjoying growing popularity: VRF (Verifiable Random Function). VRF is a generator of random numbers that are said to be particularly resistant to manipulation. Especially in the booming sector of non-fungible tokens (NFT), more and more projects are using Chainlink VRF. The Korean gaming Platform Bora uses VRF, for example, to enable new functions such as the creation of random rewards for completed missions. The NFT platform Uniqly wants VRF to randomly award prizes to users who purchase certain NFT and other products. The upshot, a new platform that uses crowdsourcing to determine NFT prices, has also recently started using Chainlink VRF. In addition, another project from the BSC-based NFT sector Chainlinks distributed random has with CondorFi decided.
The above Chainlink integrations were all announced within the past seven days. The bullish news, which testifies to a steadily growing adoption of the decentralized Oracle protocol, may have contributed to the fact that the LINK price has printed a fresh all-time high.
P.S. You Can Support me For Free Through ALL of these Links and earn some Crypto/Money Yourself! https://allmylinks.com/zealdorn
Disclaimer: These lines are not a substitute for investment advice, investments in the crypto market are made at your own risk. Invest only as much as you are willing to lose. I get commissions for purchases made through links in this post.