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Japanese Chat App Has New Plans For Its 80M+ Users (With LINK)

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A Japanese chat app operator named Line recently updated its whitepaper for its domestic Link cryptocurrency – and by the looks of how things unfold – the company could posit its token as a direct competitor to Facebook’s Libra project.

As the updated white paper shows in detail, Line’s intentions are right now tied to allowing users to make payments in Link. A report from the media outlet Coin Otaku and the writer Takahiro Iida shows that this may help Line differentiate itself from Libra, whose strength will be in enabling user to user remittances. As the latest cryptocurrency news also show, the Japanese chat app will look to use its domestic cryptocurrency (LINK) as a form of payment for games and apps on the Line platform.

The writer also said that the company could soon integrate Link with its Line Pay (e-payment solution) and allow users to trade securities using the token. The company wrote the plans, stating:

“You can use Link to make payments or win benefits. You can also use it to secure resources or pay network usage fees.”

In the altcoin news, the LINK cryptocurrency is seen as a big potential player in the crypto industry. As reports show, the Japanese chat app has more than 80 million monthly active users and the lion’s share of its market comes from Japan. However, the market is also spread across South East Asia.

What’s interesting right now, as many best cryptocurrency news sites noted, is the fact that Line Pay is currently rolling out in Japan, where it plans to enable QR code powered in store payments at participating outlets. Earlier this year, the company announced that it had teamed up with Visa for a deal which will see credit cards integrated with the Line app. In this manner, the Japanese chat app and Visa have both agreed to collaborate on further blockchain initiatives.

The white paper’s authors also claim that Line will award the LINK cryptocurrency tokens to customers as rewards for using dApps on the Link Network blockchain platform. The Japanese chat app will also reward node operators in the same manner.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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ChainLink News

This Coin Saw Major Growth But Has Strange Downside Potential

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Meet Chainlink (LINK). This coin saw a lot of surges in 2020 and has been one of the best performing cryptocurrencies in the coming altcoin news throughout both this year and the previous one (2019). The intense upwards momentum has shown many tempered signs of slowing down but the cryptocurrency still remains somewhat unclear as to whether or not the strong resistance it faced within the upper $4.00 region is enough to halt its strong macro-momentum. Analysts are now noting that the lack of support that LINK has throughout the $3.00 region could spark a significant near-term retrace if the bulls lose their strength. One analyst even noted that a drop below $4.00 for this coin could lead it to drop sharply. At the time of writing, LINK has retraced from its price of $4.24 and went to $4.11 again, trading just under 5% which still marks a slight clumb from the weekly lows of $3.89 that were set last Monday. Currently, LINK is caught within a mid-term bout of sideways trading that was first sparked after the coin incurred a massive price decline from the weekly highs of $4.89 set last Wednesday just prior to the capitulatory sell-off which was seen by the aggregated market. Yesterday, this coin saw a reversal which it had been caught within against its BTC trading pair, opening the gates for some further downside. According to the prominent crypto analyst named Bagsy, the Chainlink news show this breakdown:
“LINK update: Price broke down from pennant but hasn’t broken HTF structure; I’d look at area 1 for a bounce play back into the range. If we begin closing candles beneath the range low, no bueno. Area 2 would be for catching deeper wicks."
https://twitter.com/imBagsy/status/1231284870959304704 Another prominent crypto analyst named Josh Rager spoke about how this coin saw a major reversal. He explained that the cryptocurrency is right now in price discovery and that a drop into the $3.00 region could lead it to plummet towards $2.80 before it finds any support. https://twitter.com/Josh_Rager/status/1231434264098590721 Anyways, despite all of this, the Chainlink LINK token is one of the best performing coins. If we forget about its loss potential, it is highly possible that it will continue extending its upwards momentum if the aggregated crypto market remains bullish.
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ChainLink News

Chainlink Will Hit A New All-Time High Soon: Analyst Opinion

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Chainlink will reach a new all-time high despite it joined the crypto market relatively late, as per analysts in the crypto community so let’s read more about it in the chainlink news today. LINK is one of the most active altcoins on the market after it successfully won against the bear market and it is on a fast expansion once again. The asset is still known for its speed and huge appreciation boosted by the activity on Binance and a very strong community. Link remained volatile and it dropped from its previous high by more than 60% but the expansions are quite dramatic. This time, however, Chainlink will get a new all-time high and most of the other assets will gain some value. This means that significant earning opportunities such as the altcoins move very fast. LINK made most of the gains during the bear market in 2019 and has repeated the increase in price in 2019. Now, the altcoin will enjoy another bullish cycle on the overall market and it is getting on track to repeat its previous price record at $3.92 so this means that it could be on track to regain the 36,000 Satoshi peak from the summer of 2019. The volumes are quite far from reaching a new record but it remains promising at above $300 million per day which is significant for the coin. This time, Bitforex is taking the lead on Binance by establishing a large-scale LINK market and since the traders of chainlink are at a premium on Bitforex, the exchange will give a rally and another boost. LINK is highly liquid on Binance but also on Coinbase PRO. Chainlink also managed to reach the $3 level just a few days ago and it seems that it will not stop to take a breather. The move created even more enthusiasm and remarks of an overall move for other coins. Beyond the short-term gains, chainlike will be unique if it sets a new price record because the other altcoins are still underwater in comparison to the peak prices in December 2017. The newer projects with recent activity surpassed some of the other coins which had a great time in 2017. LINK is becoming an ‘’elite’’ altcoin because of its significant liquidity inflows from the Bitcoin market. some of these altcoins react faster and trade actively when compared to overhyped assets that are somehow forgotten now. the project also rides some of the most active trends on the Ethereum network and it even connected with the oracle information for DeFi and smart contracts.
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DeFi Upward Momentum Led By EOS REX, Maker And Chainlink

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Chainlink the oracle platform, Maker the stablecoin lending platform and the EOS resource exchange REX led the DeFi upward momentum segment of the cryptocurrency sphere, according to the newest report of TokenInsight, so let’s read more about the report in our cryptocurrency news today. TokenInsight the blockchain data company, has published its yearly cryptocurrency report for the previous year, with a focus partially placed on decentralized finance (DeFi). The report digs into which lending platforms brought the most locked value or collateral in the previous year, and also how the Decentralized Finance  DeFi upward momentum experienced the most growth over the course of the previous year. According to TokenInsight the status as the Ethereum’s most successful Decentralized Finance (DeFi) lending platform in 2019 was won by Maker as per the Maker crypto price prediction news. The application accounted for 76% of the total value locked in Decentralized Finance (DeFi) lending applications, and it accounted for 75% of the Decentralized Financial users of Ethereum. In addition, TokenInsight noticed that the supply of the stablecoin of Maker achieved its peak in 2019 with $100 million of Dai in circulation. In fact, the Dai supply moved up since the report was written: there are at this time $112 million of Dai and $23 million single-collateral Dai (Sai) in circulation. The value of a meaningful size was brought also by EOS REX, was constructed to make network throughput affordable to application developers. It brought $160 million in locked value in the previous year and attained a peak of $763 million. Two other Decentralized Finance (DeFi) lending platforms, Synthetix and Compound, accounted for a meaningful quantity of total locked value as well. They attracted $160 million and $80 million respectively.TokenInsight thinks that this category of Decentralized Finance (DeFi) will become even more important in 2020:
 “DeFi lending and stablecoins will continue [their] pace in 2020…We believe the market of decentralized stablecoins will score a substantial increase with its value growing at least 5 times.”
TokenInsight observed an extraordinarily fast growth in Synthetix, a platform that lends assets to users who put up cryptocurrency as collateral. In 2019, the total locked value of Synthetix grown 89 times, the growth went from $2 million to $180 million. Also, users have locked up 84% of the SNX supply.
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ChainLink News

LINK Gets On To $3.50 After Flight Insurance Company Partnership

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An official report that was released by Etherisc, a flight insurance platform that is blockchain-based, confirms that in order to improve the inefficiencies in the decentralized flight insurance industry, there will be the integration of the oracles of Chainlink. Link gets on to the $3.50 price level as we are about to read more in the chainlink news today. Shrinking the information asymmetry in the flight insurance sector, digitizing the claiming processes and reducing disagreements between the claimants and the insurance companies, are the goals of the addition of Chainlink oracles to Etherisc. In an industry strongly damaged by information asymmetry, increased costs from manual verification, extensive processing time and cost of claims, and a wide distrust between insurance companies and policyholders, the blockchain technology poses a much cheaper choice in solving the challenges in the flight insurance industry.
“Chainlink is a decentralized oracle network that gives smart contracts secure and reliable access to data providers, web APIs, enterprise systems, cloud providers, IoT devices, payment systems, other blockchains and much more.”
The blockchain also gives the opportunity other platforms to customize their smart contract to recover data from “off chain oracles” in various levels of decentralization. According to the report, Chainlink nodes will be utilized in a proof of concept (POC) system to obtain data from a multitude of trusted web APIs for flight status data. The report further states,
“In our POC, multiple Chainlink oracles retrieve data about whether or not the flight was delayed using an external adapter for the Flightstats API.”
Utilizing the Chainlink oracle system that provides the opportunity to policyholders to be certain of quick access to flight insurance and with some pre-conditions met, Link gets on to another price level and will get their claims on the spot. Also, insurance firms have the possibility to cut down their costs by utilizing decentralized systems, which digitizes the manual claiming process which results in the reduced need for the workforce to file claims. With Ethersic the newest partner to implement the blockchain, oracle based platform, like Chainlink signalize huge potential in connecting decentralized systems to the real world. As LINK gathers adoption from traditional industries, the token can be in contention for a further 20% growth to $3.50 USD in the near future.
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