Connect with us

Chainlink

Chainlink Whales Own Nearly 25% of $LINK’s Supply After Months Accumulating

Published

on

Whales within the decentralized oracle network Chainlink have been steadily accumulating LINK tokens over the last few months, to the point they now own up to a quarter of the cryptocurrency’s supply.

According to data shared by crypto analytics firm Santiment, Chainlink millionaire addresses, holding between 100,000 to 10 million LINK tokens, have been accumulating for months to now hold the largest amount they have held in the cryptocurrency’s history.

Advertisement

The 175-year-olçd news agency Associated Press (AP) has earlier today revealed it will provide economic, sports and elections data to Chainlink through a new partnership. The move will both improve how data sources value smart contracts and what smart contracts can achieve using AP data.

According to Sergey Nazarov, co-founder of Chainlink, the network’s oracles can bring new data onto blockchains at the rate developers can build interest applications for users, so AP’s signed data can see developers create decentralized finance applications and smart contracts associated with a “wide array of previously inaccessible topics.”

The move saw the price of LINK surge and move out of a trading range it had seemingly been stuck on. Over the last 12 months, LINK is up over 140%.

Advertisement
LINKUSD Chart via TradingView

Earlier this year, as CryptoGlobe reported, crypto analyst/influencer Elliot Wainman, the owner/host of YouTube channel “EllioTrades Crypto”, told his over 300K subscribers that — according to his technical analysis — Chainlink seems set to go much higher against Bitcoin, which could lead to “an explosion of the oracle coins.”

News Source

Chainlink

Former Google CEO is now a strategic advisor for Chainlink Labs

Published

on

Eric Schmidt, the chief executive officer of Google until 2011 who later served as executive chair at the tech company and its parent firm Alphabet, has joined oracle solutions provider Chainlink Labs as a strategic advisor.

According to a Tuesday announcement, Chainlink said Schmidt would guide the firm’s scaling strategy in its use of oracle networks to trigger smart contracts. Chainlink co-founder Sergey Nazarov cited Schmidt’s experience “building global software platforms for next-generation innovation” in the firm’s decision to bring the former Google exec on board.

“The launch of blockchains and smart contracts has demonstrated tremendous potential for the building of new business models, but it has become clear that one of blockchain’s greatest advantages — a lack of connection to the world outside itself — is also its biggest challenge,” said Schmidt.

Advertisement

In addition to his time at Google and Alphabet, Schmidt was chair of the Department of Defense’s Innovation Board, chair of the National Security’s Commission on Artificial Intelligence and served on the boards of Apple, Princeton University, Carnegie Mellon University and the Mayo Clinic. With an estimated net worth of roughly $23.6 billion, Schmidt will likely be one of the wealthiest individuals to act as an advisor to a crypto firm.

News Source

Advertisement
Continue Reading

SHIB

Shiba Inu, Chainlink Among Top 10 Purchased Tokens as Market Volatility Continues

Published

on

In last 24 hours, Shiba Inu, Chainlink among top 10 most purchased tokens

According to WhaleStats data, Shiba Inu and Chainlink are among the top 20 most-purchased tokens in the last 24 hours. Following the sell-off on Dec.4, market volatility continued on Monday, with the majority of tokens losing value as of press time.

Bitcoin (BTC) and most altcoins had a major price dip on Dec. 4, with massive liquidations seen in derivatives markets. Likewise, market sentiment is presently at ”extreme fear” as indicated by the crypto fear and greed index.

Advertisement
WhaleStats

Courtesy: WhaleStats

Despite this, contrarian investors have used this period to accumulate their favorite tokens, with SHIB and LINK coming up among the top 10 purchased tokens over 24 hours, as indicated by WhaleStats. WhaleStats tracks the 1,000 largest Ethereum wallets, referred to as “whales.”

Shiba Inu also places second among the top 10 holdings, falling behind Ethereum, which came up on top. This might suggest Shiba Inu hodlers have not given up much ground despite market volatility.

Although Shiba Inu and Chainlink remain down 8.27% and 9.58% at their current prices of $0.00003395 and $17.89 respectively, long-term investors’ optimism, however, seems to be intact.

Advertisement

News Source

Continue Reading

Chainlink

Chainlink Price Analysis: LINK/USD set to record gains today

Published

on

  • Chainlink price analysis is bearish today.
  • LINK/USD retraced to $21 Yesterday.
  • LINK is trading at $19.

Link price analysis is bearish today, as selling pressure has resumed after resistance was met at $21 late last night. As a result, we anticipate LINK/USD to move lower later in the day. A retest of the $20 support level is likely, with a potential move down to $18 should that break.

Technical indicators are currently bearish, with the RSI in oversold territory and the MACD trending lower. The Stochastic also indicates increased selling pressure, as it has moved below its signal line.mIn short, we believe that LINK/USD will continue to move lower throughout the day, with a test of the $20 support level likely. A break below that could see the price move down to $18.

Chainlink price movement in the last 24 hours: Bears takes comand again

Earlier today,  LINK/USD  traded around the $20 mark, meeting resistance. The price could not break above that level and has since started moving lower again. As a result of the increased selling pressure, we have seen another downside test, which is currently in progress. With this drop below $20, should it continue into a retest of the $18 support level, expect to see some stability at that point before any further movement takes place.

LINK/USD 4-hour chart: LINK starts to decline again

After resistance was found at $21, the Chainlink price gradually fell on the 4-hour chart as bears looked to retest the downside.

Advertisement
Chainlink Price Analysis: LINK/USD set to record gains today 1
LINK/USD 4-hour chart. Source: TradingView

Looking at the 4-hour chart, we can see that LINK/USD has been downtrend since reaching a high of $25.50 on September 10. The pair has dipped below the 50 and 100-hour exponential moving averages (EMAs). The most recent of these dips have brought us to lows of $19.40, only to be met with quick rejection as the price sought support at the 100-EMA.

Chainlink is down about 15% from its high of $33 in early November. Chainlink’s price action has gradually declined for the past several weeks, with the November low established at $23. From there, LINK/USD gradually retraced and formed a new lower peak at $27 on December 1.

The price per link fell to around $27 over the next few days. After a period of consolidation around $24.5 on Thursday, a powerful selling began late Friday night. The value of LINK/USD plummeted by 35 percent until it hit the $17 level.

Following a happy hour rejection, prices advanced early this morning, leading to a 25 percent recovery by the end of the day. Resistance was established at $21 around midnight, causing bearish momentum to return overnight gradually.

Advertisement

Chainlink Price Analysis: Conclusion 

The Chainlink price is bearish today, as we anticipate the downside to be challenged once more after a brief retracement to the $21 mark, where resistance was previously found. Before additional upside can be reclaimed, LINK/USD must establish a higher low.

News Source

Advertisement
Continue Reading