ChainLink (LINK) is currently at the forefront of DeFi projects, w new section Coinmarketcap ranking. According to the DeFi ranking, Maker (MKR), Compound (COMP) and Aave (LEND) are on the next positions, respectively.
New DeFi ranking after Binance takes over Coinmarketcap
To go to the new DeFi ranking, just hover the cursor over the first menu item in the upper left corner. Another option that you will certainly notice is separating deratives from other categories.
These changes are part of the ongoing efforts to develop Coinmarketcap following its acquisition by the Binancea exchange. During the acquisition announcement in early April, CZ made it clear that both teams would work to advance the cryptocurrency industry.
“Our shared vision will be reinforced by this acquisition to further expand and bring transparency to the industry. This will enable us to leverage each other’s strengths and act together as infrastructure providers for the cryptocurrency industry. ”
ChainLink will be a cryptocurrency revolution
ChainLink’s position at the forefront of DeFi projects is not surprising as the platform provides a range of tools that provide much-needed data for the smart contracts on which LINK is based. The effectiveness and importance of ChainLink blockchain technology has already been underlined by a team from Cane Island who stated that ChainLink will be bigger than bitcoin in the future. Now such a statement has been reiterated by the team at Weiss Ratings in the following statement:
#DeFi platforms are red-hot with nearly $ 1b in collateral pledged. Oracles empower not only DeFi, but just about everything that 2nd & 3rd-generation cryptos do. So, it’s hardly an exaggeration to say that #Chainlink will lie at the heart of the #crypto going revolution forward.
– Weiss Crypto Ratings (@WeissCrypto) July 24, 2020
If you are interested in the ChainLink (LINK) project, we invite you to read our study from the “Cryptocurrencies for 2020” series. In it you will find a lot of valuable information about the history, team, specifications, as well as many other interesting facts about this cryptocurrency.