In three days, Chainlink is up by 36% and we can see that the ERC-20 token based on the Oracle service platform has been rising. In the last 24 hours alone, the token managed to gain even 18% and has surged to a price of $3.38.
LINK is pushing its weekly gains to 51% which is awesome for the coin. The latest Chainlink news show that at spot rates, LINK has almost doubled after sinking to lows of $1.94 on March 17, a few days after the brutal capitulation of the crypto markets dubbed “The Black Thursday.” Even though LINK bottomed then, Chainlink is up by 36% in 3 days now and 51% in a week.
When it comes to the coin’s performance against Bitcoin (BTC) and Ether (ETH), LINK has gained 32% and 16% respectively, highlighting the firmness of ETH as well as the weakness of BTC. This happened only a few weeks before a market shifting event is set scheduled.
$LINK up over 36% the last three days
What say ye Link Marines? pic.twitter.com/8FWDZoHlA8
— Josh Rager 📈 (@Josh_Rager) April 8, 2020
Chainlink is up by a lot and outperforming BTC and ETH now, as well as other coins. There are three main reasons for this rise, including:
- The recent partnerships – Chainlink recently partnered with Google and Fantom. They will both integrate the network.
- SWIFT could also use LINK – Speculations circling on the Internet show that one of the main competitors of Ripple, SWIFT, could use LINK for instantaneous global transactions.
- Cypherium also integrated with Chainlink – The enterprise grade platform which focuses on decentralization and scalability also integrated with Chainlink.
For those of you who haven’t read the crypto news before, Chainlink (LINK) is basically the leading oracles platform which expands the silo-ed smart contracting capability of most blockchains including Ethereum.
Because smart contracts rely on internal and on-chain data for execution, Chainlink creates a route where they can be triggered to execute from vetted, off-chain data which introduces more use cases of the smart contracting and therefore greater utility.
While Chainlink is up by 36% in 3 days, more important is the fact that it is built on Ethereum and its native token, LINK, complies with the ERC-20 standard which means it is compatible, fluid and can be stored in the Ethereum wallets.
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