Chainlink has been making partnership and integration announcements nonstop throughout the year, although adversity is no stranger to its path.
The year 2020 has been a year full of abrupt changes and high peaks of varied standards in every corner of the economy. In the cryptocurrency ecosystem, a voracious battle took 5 currencies in the highest spots, Bitcoin cash (BCH), Bitcoin SV (BSV), Litecoin (LTC), Cardano (ADA), and LINK, are the primary currencies at the top of the crypto-economy nowadays. But recently, a movement of LINK throughout the year has placed this currency at the fifth spot; this was a sudden surprise for us all.
Chainlink has been creating paths of partnership and integration announcements throughout the year, although adversity is always on its path. There was a dubious report penned by Zeus Capital that called Chainlink a scam and crypto’s version of Wirecard. Zeus also claimed that it was compromised and building a short position in LINK with a 99% profit in the target.
The success of the oracle project has caused additional competition. It was also announced that a major crypto exchange OKEx is now getting into the oracle game.
Despite Competition and Critics, the Token Price Keeps Ascending
The decentralized finance space has been fully in the crypto world during all this year, there are even comparisons with the ICO bubble. The total Ether (ETH) value locked in DeFi has exploded from just over $1 billion in mid-June to over $4.5 billion by early August.
Not all DeFi applications need some kind of price data as a feed but most of them do. A solid, decentralized feed is crucial to create an environment of opulence, wealth, and success and security of most DeFi apps. The absence of feeds has led to several well-documented deficits. Since Chainlink is the highlight player in this space, it stands to create a big gain from the growth of the DeFi space.
Interest in Chainlink is growing up fast, not only in the USA but the whole world; this info was found in data coming from Google trends. The main role in crypto price dynamics is led by the overall market sentiment crypto price dynamics. Interest in Bitcoin (BTC) climbed a high peak in late 2017 when its price touched an all-time high of $20,000.
Data oracle is saying that chainlink is now up nearly 1,000% from where it was during the Black Thursday sell-off. When it saw a bottom spot at a near-year low of $1.79 on March 17th, LINK tokens have existed within a few cents of the $20 limit during the past few days. The price growth has been followed by an explosion of enthusiastic investors, searches of chainlink on Google has reached a high peak that has shadowed the bitcoin.
By Jenson Nuñez
