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Vitalik Buterin of Ethereum (ETH) on ChainLink (LINK) Hybrid Smart Contracts

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Lex Fridman:   What are your thoughts about ChainLink and hybrid smart contracts that utilizes off chain external data sources?

Vitalik Buterin:  I think it is definitely necessary for smart contracts that do a lot of things to use off chain data of some kind. If you want a stable coin you want a price oracle and you know what price we are targeting. If you want to have some fancy crop insurance gadget – I think Ether has been doing a lot of good work with that and I think it was either Kenya or Srilanka or they are making a good progress in some of those places.

Like you need some kind of oracle to tell you about did it rain actually in this particular area?  If you want to have like assets or other financial assets using Oracle, if you want prediction market you need to have an oracle.  And, so projects that provide oracles are definitely really important.

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There are definitely different kinds of use cases like Augur is more about events and the Augur oracle is designed differently than ChainLink.  ChainLink emphasizes the whole we have a fast automated thing that just gives you data quickly. Whereas Augur, we don’t give a crap about speed. We don’t need to give a crap about speed, because if you want to get money in a prediction market. In reality, it is resolved.  You just probably sell your coins for 99 cents anyway. So, I think ChainLink is definitely like taking a good and important part of the oracle design space. And, I am definitely happy that project is seeking Vitalik’s Coin.

At the same time I do think that they flogger on me on Twitter and that can get a bit intense at times.

I personally would prefer the Ethereum base layer from trying to provide too much finality because once you have the Ethereum base layer making a claim about USD to ETH price like at some sense you are basically saying like Ethereum as a base platform starts making political standings.

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Imagine if there was some civil war and the US split up and you have two currencies and you have both coins to be the USD. Ethereum will have to pick one for the sake of everyone who is already using that oracle. So, does that mean that the blockchain would be taking a position and making a major political debate.  So, I think for just those kinds of reasons, I would personally prefer Ethereum itself to be more over this sort of peer platform that just analyzes transactions just mathematically.

Chainlink

Chainlink Price Analysis: LINK tests $25 resistance again, breakout to follow today?

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  • Chainlink price analysis is bullish today.
  • LINK/USD moved to $25 resistance again yesterday.
  • LINK currently consolidates below the $25 resistance.

Chainlink price analysis is bullish today as the market has seen bullish momentum return over the last 24 hours, with another retest of the $25 resistance. Therefore, we expect LINK/USD to move higher later today and finally break higher.

Chainlink Price Analysis: LINK tests $25 resistance again, breakout to follow today? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with a strong bullish momentum over the last 24 hours. The market leader, Bitcoin is up by 6.69 percent, while Ethereum has gained more than 12 percent. Meanwhile, Uniswap (UNI) is among the best performers today, with a gain of around 35 percent.

Chainlink price movement in the last 24 hours: Chainlink rallies back to $25 resistance

LINK/USD traded in a range of $22.43 – $25.44, indicating strong volatility over the last 24 hours. The total trading volume has increased by 14.91 percent and totals $1.73 billion, while the total market cap trades around $11.17 billion, ranking the coin in 15th place overall.

LINK/USD 4-hour chart: LINK ready to break past $25? 

On the 4-hour chart, we can see the Chainlink price consolidating below $25 resistance as bulls gather momentum to push higher.

Chainlink Price Analysis: LINK tests $25 resistance again, breakout to follow today?
LINK/USD 4-hour chart. Source: TradingView

The Chainlink price action traded within a strong bearish momentum over the past weeks. After a new major swing high was set around $36 on the 6th of September, a strong decline followed the next day.

LINK/USD found support above the $25 mark, which currently gets retested as resistance. Following the several-day consolidation, a new swing lower high was set around $32, with the further decline seen on the 16th of September.

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This time, support was found above $21, with the following rebound to the upside retesting the $25 mark as a resistance. From there, LINK/USD made another move lower late last week and set a slightly higher low at $22 this time. Yesterday, LINK started to move higher again, resulting in another test of the $25 resistance.

Chainlink Price Analysis: Conclusion 

Chainlink price analysis is bullish today as bullish momentum has returned over the last 24 hours, and the $25 resistance is tested again. Considering that bears are likely exhausted, we should see LINK/USD break higher and finally set a new higher high.

While waiting for Chainlink to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

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Chainlink Rated as an ‘Undervalued’ Crypto, Will LINK Bounce Back?

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  • Crypto strategist and trader, Michael Van de Poppe tweeted that Chainlink is a very ‘undervalued’ crypto.
  • The tweet generated different opinions.
  • Investors are hopeful LINK will pick up in the crypto market.

A crypto strategist and trader, Michael Van de Poppe, took to his Twitter to raise an interesting personal sentiment towards the decentralized oracle network, Chainlink (LINK). In detail, he stated that ‘Chainlink is a very undervalued crypto’. As a result, the tweet generated diverse opinions.

Specifically, some questioned what basis made him feel that LINK is undervalued when there are more useful oracles out there. In contrast, others agreed with him.

On the other hand, there are also people who wondered why LINK’s daily partnerships have no effect on the price. However, a few are optimistic that Chanlink’s recent partnership with Cardano could help increase its value.

Currently, Chainlink stands at a market cap of over $10 billion with a growth rate of 1.32%. With its price at $23.01 as of the time of writing, some believe in due time, it will break out with a hit of even $200.

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Moreso, LINK users feel it deserves to be minimum at the top 10, instead of its 15th position according to its ranking in CoinMarketCap. To add on, one says he sees Chainlink going up to $500 to $800 before 2024.

Chainlink (LINK) made a massive growth in 2019 and 2020. As a result, investors question why LINK has not yet made a mark like Cardano and other top 10 altcoins. Since its launch in 2018, investors have been hopeful that the crypto would compete with top coins, like BTC, ETH, and a few others. But, surprisingly, after showing prospects in only 15 months of its debut, LINK took a turn for the worst.

Chainlink
Source: CoinMarketCap

Based on the chart above, the price of LINK is still in a bearish position. This comes after it was stuck in the same volume for quite some time. However, If LINK succeeds in reclaiming the $34 to $35 zone, new highs should be on the table.

Above all, one has to keep an eye on Chainlink (LINK) as it has chances of hitting the moon soon. It never hurts to watch and anticipate as we could see a nice move up. LINK will have its moment, it’s just a matter of time.

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Crypto Analyst Predicts Fresh All-Time Highs for Two Explosive Altcoins, Says Chainlink Is Primed To Rally

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A prominent crypto strategist and trader is predicting new all-time highs for two explosive altcoins, while anticipating a surge in the value of Chainlink (LINK).

The trader known in the industry as Inmortal tells his 72,600 followers that he’s keeping a close watch on FTX Token (FTT), the utility token of crypto exchange FTX.

According to Inmortal, FTT is flashing multiple bullish signals that can ignite an 85% rally from its current value of $54.

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“Deviation + Triple Raid + Bull divergence. Send FTT to $100.”

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Source: Inmortal/Twitter

Another coin on the trader’s list is Cosmos (ATOM), a crypto project touted as the “internet of blockchains.” Inmortal says ATOM is ready to print a fresh all-time high as it follows in the footsteps of explosive altcoin Avalanche (AVAX).

“Since the drop, ATOM was one of the best performers, (between others like AVAX or SOL). +46% bounce so far. I expect ATOM will follow AVAX and make a new ATH soon.”

TradingView Chart
Source: Inmortal/Tradingview

As for decentralized oracle network Chainlink (LINK), the crypto strategist believes that it is poised to launch a 66% surge after reclaiming a key support at $24.

“Easy trade. Send LINK to $40 ASAP.”

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Source: Inmortal/Twitter

Looking at Bitcoin, the crypto trader predicts that the king crypto is gearing up for a steep rise that will erase Bitcoin’s losses over the past week.

“I don’t understand it.. but short a V reversal if you want. BTC is still going to $100,000.”

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Source: Inmortal/Twitter

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