Have you been wondering where to get news updates concerning Cryptocurrency especially regarding Bitcoin and Ethereum? Then, you’re on the right platform. This is because, you’ll find all that you were eager to see here and so, kindly stay tuned for updates. In a tweet on Saturday, Weiss Ratings said an oracle network like ChainLink was well-positioned to capitalize on the burgeoning growth of decentralized finance and the potential for a new generation of investors.
The legacy coin has gained value in recent months, pushing itself into the top ten cryptocurrencies by trading volume. Chainlink surged in the first half of the year, doubling its trading value in a matter of days, and hitting an all-time high. Bruce Schneier, founder of Bitcoin Foundation and co-founder and CEO of Bitcoin Core, says cryptocurrencies are way ahead of most cryptocurrencies. They point out that crypto-technology relies on ChainLink for real-world data procurement, data mining and data processing.
As the world’s largest blockchain technology company, Chainlink (LINK) has seen astonishing growth in the past, year with annual revenues of over $1 billion. The token is now at a new record high on the platform, with a market capitalization of one point five billion dollars, up from zero point one billion dollars in June. This number of Twitter followers has peaked, with more than one point five million followers compared to one million in the first half of the year. While this may sound like a trivial statistic to those involved in cryptocurrency projects, the spread of social media can have a notable impact on the adoption of a platform.
Researchers from CryptoCompare wrote that the number of people using social media, particularly on Twitter, continues to grow. It is worth not following social media and measuring the growth of cryptocurrencies, as found in this case, even if you do not follow them. The correlation between followers and sentiment is strong, and it is possible that the cryptocommunity on Twitter can have a strong influence on price movements. There are two factors that could point to the growth of Chainlink: the growth of the community, and the potential for strong growth in the future. One is a new partnership with Chainlink, the other is the growth of the Devolution of Finance (DeFi).
Chainlink has seen a greater use of the DeFi protocol in 2016, with the total value of the DeFi market reaching a new record of three points five, six billion dollars. For the mood increases due to these factors, so does the growth trend, and the demand increases with the rising market value. As for the future of the token, it is hard to say whether the market will allow the tokens to continue to rise. However, it is believed that in the short term they could expect prices to fall at LINK because of the rejection. He notes that the token is now slightly supported, but at 7:15am it has retested the lows, and could be retested.
Among the existing decentralized financing platforms, the most important features of the DeFi platform, and the main growth driver is the monumental capacity utilization. In recent months, DeFi tokens have performed better compared to other digital currencies. Unlike other digital currencies that perform worse. Again, this is reflected in the steep rise in transaction fees in the Ethereum network, which saw another rise few days ago. This oracle benefits from cryptocurrency space by being simultaneously dependent on chain link, and providing a useful solution. Simply put, it benefits from both oracles and blockchain, as it stores data on the chain at the same time.
According to Coin Dance’s metrics, the hype surrounding DeFi Ethereum was boosting. ETH transactions are approaching a million ETH, and the Ethereum network is now at its highest level in a year. Traders and investors are panicking about the recent drop in prices for Bitcoin and Ethereum. Given the market’s bear strength, the continued growth of the token as a whole is being tested by a number of factors, including the price of Bitcoin, and the recent rise in prices. This commitment comes on top of the investor commitment to support DeFi in its initial public offering in the form of $1 billion investment. The locked collateral is used for transactions between different protocols such as Bitcoin, Ethereum, Bitcoin Cash and other cryptocurrencies.