Major developments are happening at Chainlink as LINK reaches all-time high ๐จ This article is 4 years old...
Major developments are happening at Chainlink as LINK reaches all-time high
2 min read
Updated: Jul. 14, 2020 at 12:54 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Chainlink (LINK) has seen a huge influx of new money lately, with its native cryptocurrency LINK reaching an all-time high of $8.23. The rally was accompanied by a slew of major announcements from Chainlink, which partnered with several new DeFi projects and is set to hold an action-packed virtual summit focused on smart contracts at the end of August.
Chainlinkโs native token reaches ATH as retail investors race with FOMO
Chainlink investors seem to be suffering from a serious case of FOMO, as they managed to pump the platformโs native token to its all-time high in a rather dull and uninspiring market. While the decentralized oracle provider has been on everyoneโs radar this year thanks to partnerships with Google and Oracle, it doesnโt look like the investors are too concerned about what the company actually does.
According to Cryptoslate data, LINK saw its price increase over 59 percent this past week. The 7-day pump pushed the coin all the way up to its all-time high of $8.23 earlier today.
While thereโs a myriad of different factors that could have caused LINKโs incredible rally, one seems to stand outโretail investors.
Data from cryptocurrency analytics company IntoTheBlock showed that 16 percent of addresses are holding LINK since last month. This is a significant number given the fact that only 19 percent of addresses have been holding LINK longer than a year.
Major developments at Chainlink
Chainlinkโs partnerships with companies such as Google have led many to anticipate that it would be institutional money that would propel LINK to great heights. This belief was backed with major developments coming from Chainlinkโin its weekly update, Chainlink announced several new partnerships.
Low-volatility money protocol Meter.io, loan provider Nexo Finance,ย and digital ticketing platform DigiTxio have all began to use Chainlinkโs price reference data.
Aside from partnerships with upcoming DeFi protocols and platforms, Chainlink has also been busy with its upcoming virtual summit. Announced yesterday, the companyโs first-ever Smart Contract Virtual Summit (SmartCon) will take place on Aug. 28 and 29 and focus heavily on smart contracts and the people behind them.
The summit is set to feature some of the top minds that bridge the gap between major corporations and blockchain technology, including the co-founder of Microsoft Blockchain Yorke E. Rhodes and the co-founder of IBM Blockchain and ConsenSys John Wolpert.
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Chainlink is a decentralized oracle network that connects smart contracts on the blockchain to real-world data.
Nexo
Nexo is a leading global financial institution specializing in digital asset services, particularly focusing on cryptocurrency lending, exchange, and financial management solutions.
IBM Blockchain
IBM Blockchain Platform is an integrated business-ready platform that addresses the full lifecycle (develop, govern, and operate) of a multi-organization blockchain network.
Consensys
Consensys is a venture production studio and custom software development consultancy building decentralized applications (DApps), enterprise solutions and developer tools for blockchain ecosystems, focused primarily on Ethereum..
IntoTheBlock
IntoTheBlock is a data science company applying cutting-edge research in AI to deliver actionable intelligence for the crypto market.