Thanks to price feed technology and oracles, Chainlink has made a name for itself in the industry. While the ecosystem is making great strides from a technical point of view, how does it fare from an investment point of view?
The network has been incorporated into many DeFi protocols and GameFi projects, leading to skyrocketing adoption rates. follow notification Officially, the network’s VRF has been incorporated into the Spark Era game to ensure that the in-game random NFT generation is done in a fair and secure manner.
Previously was Bonded Finance integrated the network’s prize feed to support loans for altcoins. In addition to these developments, Chainlink CEO Sergey Nazarov. in an interview with Sibos explain:
“I think the most important limiting factor is safe integration. This is something that Chainlink spends a lot of time researching for. “
With Chainlink aiming to solve these problems, is now the time for investors to jump into the bullish hype? It seems so.
If you look at investor performance, you will find that it is quite strange. Although hopefully these network developments will fix that.
Investors have lost a lot of confidence since the 25% decline on September 20. The proof is that the supply of exchanges has increased by more than 10 million LINK.
Provision of LINK on exchanges | The source: Glass knot
This does not necessarily mean that the investor is selling. However, validators don’t sell either. Their stocks have not decreased. Your balance is currently at 5.162 LINK and has been rising continuously since 9/14.
Chainlink Validator Balance | The source: mood
It also shows Age of Consumption, an indicator of how many older coins of all ages have been moved recently that long-term (LTH) holders are selling.
Almost 2.5 billion daily coins are destroyed in each peak. This suggests that LTH will continue to take profits, rather than HODL as with other cryptocurrencies.
Age coin consumed | The source: mood
Fortunately, the medium-term owners are sticking to LINK despite the sluggish growth this month. As a result, the number of addresses rose by 4% (20,000 addresses) after one year.
Development activities of Chain link | The source: mood
In short, since Chainlink continues to prove itself through regular integrations with other projects, it could soon win back the trust of other investors as well.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Minh Anh
According to AMBCrypto
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…
Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…
Over the years, meme coins have evolved from inside jokes into serious investment opportunities.
Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…
Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…
Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…
This website uses cookies.