The award-winning mobile app and trading platform SimpleFX has just added the crypto rookie of the year: Chainlink to its already broad asset offering. SimpleFX traders will now be able to buy or sell Chainlink (LINK / USD) or make deposits in LINK and take advantage of surprise movements in its price. Join the Simplex Chainlink $ 1,000 promotion for exciting surprises.
Following an unexpected surge in crypto followers, Chainlink managed to position itself in the top 5 of the largest cryptocurrencies by market capitalization, just behind Bitcoin, Ethereum, Tether, and Tron. The LINK / USD pair started trading at just $ 4.12 in January and has hit a high of $ 20 this year, an increase of 588%, before recently falling back to around $ 12.
Chainlink and its token LINK
LINK is the digital asset that users use as the exclusive payment currency on the Chainlink network. There are 390 million LINK tokens in circulation today with a total limit of 1 billion. Thus, everybody expects the LINK token is expected to increase in value over time.
Chainlink is a decentralized oracle network that links smart contracts on blockchains with applications in the real world. The Chainlink network carries any necessary input or output to smart contracts on any blockchain to reproduce the life cycle of a contract. Chainlink has the potential to expand the functionality of DeFi smart contracts, expand the variety of products, and attract more regulated players to join the DeFi ecosystem.
LINK all-time high
On August 16, the LINK / USD pair recorded an all-time high of $ 20 per token, with daily active addresses increasing to 15,600. On the other hand, way before this, on August 8, a massive contraction of small contracts in the futures market pushed up the price of LINK to rise 25% in one single day, causing it to be the first significant increase to the date.
Chainlink’s strong performance amounted to a whopping 99.61% only in August. The growing interest in DeFi just provided enough support for the recent rally.SimpleFX Chainlink Promotion of 1000 USD. SimpleFX seems to be the most straightforward online trading platform, making it possible to buy or sell LINKUSD and other popular crypto assets from desktop or mobile devices.
Chainlink is defined as a system of oracles built upon the Ethereum blockchain that supplies data to decentralized blockchains. An example of this is if two users bet on the outcome of a binary event, the oracle will announce the smart contract the user won, so it is possible to pay the winning bettor.
By: Jenson Nuñez.
