Chainlink oracles token has taken the crypto markets by storm as its price has reached an all-time high.
The price of LINK Token surged as major protocols adopt Chainlink oracles.
Chainlink Token Surges All-Time High
The Chainlink native token LINK has gained more than 55 percent this week and entered the price discovery mode ushering in the new uptrend cycle.
The decentralized finance oracles have increased within the short term. The Chainlink token created a new record on Monday this week as the altcoin’s markets surged. The LINK token reached $23.68 in few hours as the changing hands gained 7.3 percent in 24 hours. The last all-time high of the token was calculated at $19.90 in August 2020.
The token doubled in January 2021after recording a whopping 530 percent hike in last year. Leading projects use the Chainlink Oracles as a verifier between the various smart contracts and real-world data feeds. The LINK token surged to a substantial level in the last few weeks. Recently Neutrino announced integration with the Chainlink Proof of Reserves oracles on its network.
Chainlink’s implementation of smart contracts helps in connecting blockchains with real-world data. The LINK Marines community is overwhelmed by the recent developments. It is estimating that the price of the LINK will reach massive heights in the coming future. Marines even believe that LINK may reach up to become the third top cryptocurrency in the markets. Currently, Chainlink is the eighth cryptocurrency by market capitalization with $8.9 billion.
The Chainlink price oracles provide data to various platforms. Its data feeds help the decentralized finance platforms take aggregated data from various sources and then derive the most accurate price of the digital asset. Many Decentralized Finance protocols are adopting Chainlink oracles, which has boosted the price of the LINK token. Paxos, NULS, Warp Finance, Open, and SynLev have adopted Chainlink oracles on their platform.
As per the market experts, LINK is the only cryptocurrency asset that is making immense growth right now. The latest price feed by Chainlink is LTC/USD, which provides real time consolidated data to the platforms.
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