11.4 C
Manchester
September 22, 2020
Image default
Altcoin

3 reasons why Chainlink rose 36% in 3 days

In three days, Chainlink (LINK), the ERC-20 token increased by 36%.

In the last 24 hours alone, the token has increased by 18% and it is not surprising, increasing weekly earnings to 51%, Chainlink (LINK) is trading at $ 3.35.

LINK’s market performance

LINK nearly doubled after dropping to $ 1.94 on March 17, a few days after the March 12 decline, dubbed Black Thursday, causing double-digit losses in asset classes overall. The market seems to be recovering, and LINK is leading the revival.

Against Bitcoin (BTC) and Ethereum (ETH), LINK gained 32% and 16%, respectively, highlighting the firmness of ETH and the weakness of BTC.

3 reasons why LINK is overtaking Bitcoin (BTC) and Ethereum (ETH)

The high demand for LINK in the last few days may be because Chainlink is the leading database manager that links blockchains with intelligent contracting capabilities with reliable and examined data outside the chain.

1. New partnerships

She has partnered with Google and the past few days; continues to establish interesting partnerships, including an agreement with Fantom.

Fantom will integrate Chainlink. Michael Kong, Fantom’s CEO trusts the platform’s decentralized network, saying that its mechanism stands out in terms of security, reliability and accuracy. Fantom is interested in creating DAG-based public ledgers that are inherent in scalability and security.

In a post, he said:

“After significant research focused on the key features that make up the best database management engine, Chainlink has stood out as an extremely secure, accurate and reliable option for obtaining data outside Fantom’s chain.”

2. SWIFT (Ripple’s direct competitor) can use LINK

There is speculation that, by 2025, SWIFT, the main competitor of Ripple and XRP, could use LINK for instant global transactions. If that is the case, the token is extremely undervalued and there are more advantages in the future.

3. Cypherium has also joined Chainlink

Cypherium, a corporate-level platform that focuses on decentralization and scalability, has also joined Chainlink. Sky Guo, CEO of Cypherium, praised Chainlink’s “uncompromising security” and its established brand.

He said:

“Without compromising security, Chainlink is an ideal technology for Cypherium. The Chainlink network is recognized by leading independent research companies, such as Gartner, as a leader in blockchain applications. “

Source: Coingape


Bruno Lugarini photo



Bruno Lugarini photo

The author: Bruno Lugarini

Student of Information System, computer technician, passionate about technology, enthusiast of cryptocurrencies and Nerd.


Related posts

The Ethereum 2.0 testnet will be launched today

Anupreet Kaur

Ghost: John McAfee’s privacy coin

Anupreet Kaur

XLM price rises after donation to combat COVID-19 program

Anupreet Kaur

Leave a Comment