Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject
LINK, the native token of Chainlink, went down almost 4% over the past 24 hours. Data from CoinMarketCap showed that the token’s price is not the only metric that has gone down.
LINK’s daily trading volume took a 5.2% hit and, at press time, it was at $221 million.
Read Price Prediction for Chainlink [LINK] for 2023-24
Chainlink is the largest decentralized oracle project in terms of market cap and total value secured, and a number of crypto projects associated with it.
It recently announced the launch of Chainlink Automation on Arbitrum One in association with Arbitrum. A number of projects including COTI and Armadillo, Cask, and DeFiEdge, are already integrating Chainlink Automation into their dApps to reliably trigger key smart contract functions on Arbitrum One.
Given the recent turmoil in the crypto markets following the solvency concerns of Bahamas-based crypto exchange FTX, a number of influential figures in the industry have called for transparency and have started advocating for proof of reserve.
On 10 November, Chainlink started offering proof of reserve services for troubled crypto exchanges. This feature was launched back in 2020 but has started to gain popularity in the wake of the current unrest in the industry.
Apart from the staking upgrade, Chainlink announced various partnerships over the last week that will increase its adoption. The company announced on 24 October that prices in the Bitizen wallet will be powered by Chainlink price feeds following its integration into Polygon mainnet.
Chainlink also revealed a channel partnership with Tokenomia.pro, a web3 consultancy firm catering to token engineering and smart contract design among other things.
Chainlink’s recently announced partnership with international banking network SWIFT. It came as…
