Tag Archives: Chainlink

Crypto Analyst: ChainLink’s Annual Returns Could Mimic an Early BTC

Crypto Analyst: ChainLink’s Annual Returns Could Mimic an Early BTC

John P. Njui   •   DEFI • CHAINLINK (LINK) NEWS • ETHEREUM (ETH) NEWS   •   SEPTEMBER 20, 2020

Quick take:

  • Timothy Peterson has predicted that Chainlink will exhibit early Bitcoin returns of 300 – 400% per year
  • The value of LINK is very much linked to the adoption of the ChainLink network
  • More crypto projects continue to integrate ChainLink technology
  • Timothy Peterson has also foreshadowed a possible bottom for LINK in late September

In a recent tweet, Crypto Analyst Timothy Peterson of Cane Island Alternative Advisors has predicted that ChainLink (LINK) is on a path towards experiencing returns similar to an early Bitcoin of 300 – 400% per year. According to Mr. Peterson, the price of LINK is very much linked to the adoption of the ChainLink network.

Use of ChainLink’s Price Feeds and Oracles Continues to Grow

Mr. Peterson has constantly used Metcalfe’s Law to highlight the relation between network activity and the value of the associated token. In this case, activity on the ChainLink network continues to grow with multiple crypto projects signing up to use the project’s price feeds.

In this past week alone, several crypto projects have announced their use of ChainLink’s price feeds. To begin with, TrustSwap announced that it will be using ChainLink’s ETH/USD price reference data for its SmartLock and SmartEscrow products.

Other crypto projects that announced the integration of ChainLink technology in the last week include SpectreAI, Matic Network, Zapper, Hacken, XinFin Network, Baseline protocol and Crypto.com.

A Possible Bottom for ChainLink in Late September

In terms of the short term value of ChainLink in the crypto markets, Timothy Peterson has suggested that late September could be a possible time-frame for LINK to bottom in the crypto markets. He shared his price analysis of ChainLink via the following tweet that also highlighted that its value is tied to unique function calls on the ChainLink network.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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ChainLink LINK Launches Hackathon with 40k in Prizes

ChainLink (LINK) Launches Hackathon with $40k in Prizes

John P. Njui   •   CHAINLINK (LINK) NEWS   •   AUGUST 25, 2020

In summary:

  • The team at ChainLink has launched a virtual hackathon.
  • It will happen between September 7th and the 27th this year.
  • Developers are invited to build smart contract applications in DeFi, NFT, Gaming and more
  • Over $40k in prizes is up for grabs.

The team at ChainLink (LINK) has announced the launch of a virtual hackathon geared towards building smart contracts in DeFi, NFT (Nonfungible Tokens), Gaming and more. The event will happen between the 7th and 27th of September and developers are invited to build next-generation smart contracts to connect the world.

Below is the tweet by ChainLink making the initial announcement.

Over $40k in ChainLink Prizes

The team further provided the following distribution of prizes for participants of the virtual ChainLink hackathon.

  • $4,000 in LINK for the Top DeFi project
  • $4,000 in LINK for the top Gaming/VRF project
  • $4,000 in LINK for the top ‘Anything Goes’ project
  • $500 in LINK for each of the 10 runners-up
  • Over $20,000 in additional prizes from Aave and other sponsors

Where to Register for the ChainLink Virtual Hackathon

Interested developers are requested to register for the ChainLink hackathon using this online form.

Other ChainLink News

In the past few days, there have been a few notable ChainLink developments that might have gone unnoticed.

To begin with, on the 23rd of August, the ChainLink team announced that investors can now track the price of Silver in their DApps using ChainLink’s live XAG/USD price feed. The price feed is being utilized by Synthetix which plans on bringing commodities derivatives to DeFi.

Secondly, the crypto exchange of Bitfinex listed ChainLink on the 21st of August. Additionally, margin trading of LINK on the platform was enabled earlier today together with that of Polkadot (DOT). Bitfinex traders can trade both assets using a maximum of 3.3x in leverage and an initial equity of 30% and a maintenance margin of 15%.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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ChainLink LINK Hits New ATHs in Price and Daily Active Addresses

ChainLink (LINK) Hits New ATHs in Price and Daily Active Addresses

John P. Njui   •   CHAINLINK (LINK) NEWS   •   August 9, 2020

Quick take:

  • On August 8th, ChainLink (LINK) printed a new all-time high of $13.88.
  • At the same time, LINK’s active daily addresses also hit a new all-time high of 22,622.
  • LINK continues on its upward trajectory with no clear indication that its momentum will drop.

For the past week, the digital asset of ChainLink (LINK) has had a spectacular ride in the crypto markets. LINK opened the week at a value of approximately $8.27 only to print a new all-time high value of $13.88 yesterday, August 8th. This is a 67.7% growth in value in less than a week.

The majority of the gains were observed yesterday, August 8th, when LINK opened the day at around $10 and gaining by over 38% to print the new all-time high value.

ChainLink Hits New All-Time High in Price and Daily Active Addresses

While LINK was setting a new all-time high value in price, its on-chain metrics also pointed to a new all-time high in terms of daily active addresses. The team at Santiment Research explained this fact as follows:

$LINK has hit all-time highs in both price ($13.76) and daily active addresses (15.6K and counting) today. It is currently the #1 trending #crypto asset on @santimentfeed. There is no telling when this impressive run will end for #Chainlink holders.

Below is a current chart showing the impressive growth of ChainLink’s price and daily active addresses. According to the chart by Santiment, the ChainLink network had a new peak of 22,622 daily active addresses on the 8th of August.


Chart courtesy of Santiment.net. (Click image for larger view)

A Possible Correction After LINK Marines Liquidate Zeus Capital

As mentioned by the team at Santiment, ChainLink (LINK) is yet to give clear indications as to when its impressive push in the crypto markets will start to experience fatigue.

With many crypto traders practically going long on LINK based on gut feeling and news updates about LINK marines attempting to liquidate Zeus Capital, there is a high chance that LINK’s value will continue to grow until the latter feat is achieved.

Below is one such tweet tracking the progress of LINK marines attempting to liquidate Zeus Capital.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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4 Additional Projects Integrate ChainLink LINK Technology This Week

4 Additional Projects Integrate ChainLink (LINK) Technology This Week

John P. Njui   •   CHAINLINK (LINK) NEWS   •   July 23, 2020

Quick summary:

Quick summary:

  • The ChainLink (LINK) team continues to seal partnerships on a weekly basis.
  • This week, 4 projects have integrated LINK technology.
  • The continual growth of the ChainLink ecosystem translates to real-life use cases.
  • LINK’s value stands to benefit from the continual growth.

This week, ChainLink technology has been successfully integrated into four projects.

To start, Reflexer has successfully integrated ChainLink’s ETH/USD price reference to power the RAI testnet bond, also known as a Generalized Ethereum Bond. Secondly, ChainLink’s ENJ/ETH price reference feed is live on the LINK mainnet and gaming developers can use the information when minting or exchanging Enjin based digital assets.

Thirdly, T-Systems has joined the ChainLink ecosystem and will be helping to secure ChainLink’s oracle network. T-Systems also facilitates real-world adoption and advancement of blockchain technology. Fourthly, FirmaChain is integrating ChainLink technology to create more seamless digital contracts.

ChainLink Real-Life Use Cases Continue to Grow

Such feats of projects continually integrating and leveraging ChainLink technology prove that the adoption of LINK technology is the driving force behind the digital asset’s growth in the crypto markets. The onboarding of crypto and blockchain projects into the ChainLink ecosystem is a continual process with multiple projects doing so on a regular basis. The aforementioned four projects join a long list of others that are either using ChainLink’s oracles networks, smart contracts and additional features.

Impact of ChainLink Adoption on LINK’s Price

As earlier mentioned, the adoption of the ChainLink network and the high transaction activity related to LINK have driven the price of the digital asset to new heights.

From the month of June, LINK has dominated the crypto markets and eventually setting an all-time high of $8.92 a few days ago. A quick glance at the 6-hour LINK/USDT chart reveals that the digital asset has recovered from what seemed like a correction pointing towards sub $7 levels. At the time of writing this, LINK is trading at $7.85.


(Click image for larger view)

Additionally, the bullish momentum in the crypto markets brought about by the OCC greenlighting US banks to offer crypto custody solutions to their costumers might provide additional fuel for LINK to retest the $8 resistance level in the hours or days to come.

As with all technical analyses of LINK, traders and investors are advised to use stop losses and to keep an eye out for news that might affect their trading positions.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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Altcoins to the Moon as Ethereum and Chainlink Lead Bull Rally

Altcoins to the Moon as Ethereum and Chainlink Lead Bull Rally

By Adrian Klent – July 23, 2020

As opposed to analysts’ speculations, the Altcoin season is just getting started. It’s important to not discard the speculations regardless, as Bitcoin’s stability within the $9,000 zone gives altcoins the leverage to rake up gains smoothly.

If Bitcoin makes a bullish move within this time period, altcoins may suffer losses and the altcoin season just might come to an end. But maybe not within the next 24hrs, as the previous 24hrs have seen altcoins like ETH and Link perform quite impressively. The two altcoins hold the spots for the second and ninth-largest cryptocurrency respectively, by market capitalization.

Ethereum Price Performance

The one day live Ethereum trading chart reflects a brewing bull run, but analysts prefer to call it a price pump at the moment. At around 9:00 UTC, Ethereum started off with a trading price that was seated around the $240 range.


ETHUSD Chart By TradingView (Click image for larger view)

At around 6:00 pm UTC, ETH made an intense bullish crossover, surpassing the $250 resistance levels and attained gains of 9.7% when it hit $269, the highest price seen since February. At the time of this writing, the altcoin has maintained a bullish momentum and is aiming for the $300 mark as it trades at $263. The price pump comes after Ethereum developers confirmed that the final testnet before the Ethereum 2.0 update will launch on the 4th of August. On the 30th of July, the Ethereum network will also celebrate its fifth year anniversary.

Both events are expected to cause yet another frenzy in the market. The former is expected to push prices even higher as the network capacity becomes stronger.

The locked value in Ethereum has also surged as DeFi’s total locked value has continued to soar. At this time, statistics are showing that the locked value of ETH surged from 2.5 million to 4 million in the last 7 days.

Chainlink (Link) Price Performance

Chainlink has also topped the list of best performing altcoins in the month of July and is slowly becoming a favorite altcoin among Altcoin traders. At present, Link is up by 8.34%. Both its current trading price of $7.89 and a market cap of $2.76 billion are well-positioned for a bull run.


ETHUSD Chart By TradingView (Click image for larger view)

If this happens, Link could switch spots with Litecoin to become the 8th most valued Cryptocurrency. When prices break barriers to hit $8, then the highly anticipated $10 mark may be attained before the close of 2020. The general factor affecting Link’s performance is in ChainLink’s fundamental use case. While the altcoin rally could be halted at any point in time, there is a valid reason to believe that DeFi is indeed here to stay.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Adrian Klent and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Binance Launches ChainLink LINK Quarterly Futures Before Ethereum’s

Binance Launches ChainLink (LINK) Quarterly Futures, Before Ethereum’s

LINK quarterly futures have been launched on Binance before Ethereum's.

John P. Njui   •   CHAINLINK (LINK) NEWS • BINANCE (BNB) NEWS   •   JULY 21, 2020

Summary:

  • The popularity of ChainLink has resulted in Binance launching a quarterly LINK Futures contract.
  • LINK quarterly futures have been listed before the Ethereum’s.
  • This move shows that ChainLink (LINK) is a fan favorite for crypto traders.
  • LINK had earlier dropped below $7 and is now trading at $7.63.

The crypto exchange of Binance has announced that it will be launching ChainLink (LINK) a quarterly futures contract. Trading of the contract will commence tomorrow, July 22nd, at 7 am UTC. Traders can use a maximum of 75x leverage once the LINK quarterly futures contract goes live. The LINK quarterly contract will expire September 25th, 2020.

One fact that stands out is that the LINK based quarterly contract has been launched before an Ethereum one on the exchange. At the time of writing this, there are quarterly contracts for two digital assets: Bitcoin (BTC) and Cardano (ADA). A LINK based quarterly contract becomes the third.

ChainLink’s High Trade Volume Could be Why a LINK Quarterly Contract was Offered before Ethereum’s

The popularity of ChainLink (LINK) amongst crypto traders could be one reason that Binance chose to list its quarterly contract before that of Ethereum. Last week, LINK’s daily trade volume briefly eclipsed that of Ethereum particularly around the time ChainLink hit its new all-time high value of $8.92.

LINK Continues to Shake Off Malicious Zeus Capital Report

LINK’s daily trade volume is still high despite the emergence of last week’s malicious report by Zeus-Capital that claimed that the ChainLink project was pure vaporware. The report also predicted that ChainLink’s value in the crypto markets would eventually fall by 99% to $0.07.

However, crypto twitter has since debunked the report which has been pulled down from the Zeus-Capital website. At the time of writing this, the malicious report has been linked to another crypto project as seen in the following tweet.

Brief Technical Analysis of LINK/USDT


(Click image for larger view)

LINK has benefited positively from Bitcoin’s surge above $9,300. A brief look at the 6-hour LINK/USDT chart reveals that the digital asset experienced a bounce around the 50 MA. However, LINK/USDT still looks like it is in the midst of a pullback due to the impressive push earlier this month to its new all-time high of $8.92.

Therefore, placing a long on LINK at its current value of $7.63 might be a gamble given the fact that LINK is not as influenced by Bitcoin’s price action. This is the reason LINK was pumping in the markets despite Bitcoin being relatively flat. Therefore, caution is advised when trading LINK as Bitcoin pumps.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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ChainLink LINK Trade Volume Breaks Records on Crypto Exchanges

ChainLink (LINK) Trade Volume Breaks Records on Crypto Exchanges

John P. Njui   •   CHAINLINK (LINK) NEWS   •   July 16, 2020

Summary:

  • The daily trade volume of ChainLink (LINK) on crypto exchanges has been on a steady climb.
  • LINK was the second most traded digital asset on the Gemini exchange edging out Ethereum.
  • A similar feat was achieved on Kraken by ChainLink and for a second day.
  • The LINK perpetual contract on FTX was the highest traded contract ahead of Bitcoin’s.
  • LINK’s rise in the crypto markets has been temporarily halted by the Twitter hack.

For the past two weeks, ChainLink (LINK) has been the talk of the town with the digital asset breaking several all-time high values with the most recent being at $8.74 according to Coinmarketcap. The impressive market performance of LINK has led to the digital asset breaking several trade volume records on multiple exchanges.

LINK Beats Ethereum in Trade Volume on Gemini and Kraken

To begin with, ChainLink (LINK) had an incredible day, in terms of trade volume, on the Gemini exchange. According to Cameron Winklevoss, LINK’s trade volume on the Gemini exchange surpassed that of Ethereum in the last 24 hours. Below is the tweet by Mr. Winklevoss marking this milestone.

Additionally, LINK achieved a similar feat on the Kraken crypto exchange. In this case, it was the second day that LINK had edged out Ethereum in terms of 24-hour trade volume. In their daily market report for July 16, the team at Kraken further highlighted that LINK’s trade volume has been on a steady increase for quite some time.

LINK beat out Ethereum for the second straight day in terms of total trading volume. LINK/USD has had the largest increase in week-over-week and month-over-month trading volume.

LINK Perpetual Contract the Most Traded on FTX

Furthermore, LINK has also broken records on the FTX crypto exchange by surpassing Bitcoin as the most traded perpetual contract on the platform. This feat was highlighted by the CEO of FTX, Sam Bankman-Fried (SBF), via the following Tweet.

LINK Briefly Shaken by the Twitter Hack

A brief glance at Coinmarketcap once again reveals that ChainLink (LINK) is still ranked 8th ahead of Litecoin (LTC) and Binance Coin (BNB). However, the value of the token seems to have been shaken by the Twitter hack. LINK’s journey up the ranks has suffered a brief setback due to the Twitter hack that has had a negative effect on all digital assets.

In the case of LINK, the digital asset briefly dropped below $8 to $7.92 on Binance. However, LINK has since reclaimed some of its bullish momentum and is trading at $8.56 at the time of writing this.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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ChainLink’s High Network Activity Keeps Pushing LINK Higher

ChainLink’s High Network Activity Keeps Pushing LINK Higher

LINK just hit a new all-time high of $6.76 today, July 12th.

John P. Njui   •   CHAINLINK (LINK) NEWS   •   July 12, 2020

Quick take:

  • ChainLink (LINK) has hit a new all-time high value of $6.85.
  • The high network activity of LINK is one reason the token keeps gaining in the crypto markets.
  • An earlier prediction had put LINK at $8 by December 2020.

ChainLink (LINK) has hit a new milestone today in the form of an all-time high value. At the time of writing this, LINK broke the $6.57 resistance zone to claim the new all-time high value of $6.85 – Binance rate.

High Network Activity Keeps Pushing LINK Higher

The success of LINK comes as no surprise as the activity on the ChainLink network has continued to grow since the beginning of 2020. The daily active addresses on the LINK network hit a new high of 9,335 on the 8th of July. The team at Santiment captured this achievement via the following tweet.

LINK Network Activity Provides Future Price Insights

The last time the activity on LINK was this high, was in June 2019 around the same time LINK hit an earlier all-time high of $4.80. Therefore, it can be concluded that network activity on the LINK network can be used to anticipate price movement as explained by Timothy Peterson and the team at Cane Island.

In a recent analysis of ChainLink, the team at Cane Island explained that LINK users grew by 17% per month and the future adoption of the ChainLink network would drive adoption of the token as well as its price. The analysis of LINK by the team at Cane Island also provided the following chart that predicts an $8 LINK by December 2020.


(Click on image for larger view)

Brief Technical Analysis of ChainLink (LINK)

To provide a clearer picture of the price movement of LINK since September 2017, we can zoom out a bit on the daily LINK/USDT chart courtesy of Tradingview. The chart (below) clearly illustrates how past LINK resistance levels have flipped to become major support levels on a macro view.


(Click on image for larger view)

Taking a historical look at the daily LINK/USD chart, the following can be concluded.

  • The January 2018 all-time high of $1.54 eventually turned into solid support as seen in September 2019 and during the Coronavirus crash of mid-March, 2020.
  • The July 2019 all-time high of $4.80 has been a serious resistance zone attempted before the crash of mid-March and could end up becoming the new support zone on a macro scale.
  • Trade volume is still in the green and the daily MACD is yet to show sights of exhaustion further pointing to LINK possibly breaking its new all-time high of $6.85.
  • MFI points to an overbought situation. Therefore, going long on LINK should be done with caution.

As with all analyses of ChainLink (LINK), stop losses and the use of low leverages is advised. Additionally, keeping an eye out for Bitcoin’s price movement will provide a measure of the fate of the crypto markets.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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As Bitcoin Remains in Bear Territory This Crypto is About to Rocket to Fresh Highs

As Bitcoin Remains in Bear Territory, This Crypto is About to Rocket to Fresh Highs

            March 3, 2020

It has been a rocky past few weeks for the cryptocurrency markets, with Bitcoin plummeting from recent highs of $10,500 to lows of $8,400, leading most major cryptos to similarly see some intense bearishness.

There is one crypto that has been able to rally in the face of this market-wide selling pressure, however, with Chainlink setting fresh all-time highs against its Bitcoin trading pair.

This massive uptrend has led one top analyst to note that LINK’s strength against its BTC trading pair is likely to lead it significantly higher against USD in the days and weeks ahead.

Bitcoin Remains Stuck Beneath $9,000 as Analysts Eye Further Downside

After incurring a fleeting surge up to highs of $8,950 earlier this morning, Bitcoin faced a swift rejection at this level that subsequently led the cryptocurrency to plummet back towards $8,700 – which is where it has been hovering at over the past few days.

Today’s early morning rally came about in tandem with an upsurge seen by Gold and the global equities markets, with the price action seeming to further confirm the cryptocurrency’s status as a risk-on investment.

The recent rejection also confirms that the crypto is weak at the moment, and it may suggest that it will see further downside before it finds enough support to catalyze a sustainable uptrend.

TraderXO, a prominent cryptocurrency analyst on Twitter, explained in a recent tweet that he believes BTC may see some further near-term upside, but that this will ultimately be followed by a sharp decline to lows of $7,900.

“BTC — swing short setup. Will enter on the rejection,” he noted while pointing to the levels seen on the chart below.

This Crypto Could Set Fresh All-Time Highs Despite BTC’s Weakness

Chainlink’s insane rally seen throughout 2019 and 2020 did slow down last week when the markets faced an intense selloff, but it has been able to significantly outperform Bitcoin and is now about to attack its previously established highs.

Crypto Michaël, a prominent cryptocurrency trader and analyst, explained in a recent tweet that a break above $4.30 could induce a rapid surge to, or past, its all-time highs at $4.80.

“And testing the highs here. Breakout of $4.30 should induce a test of the $4.60-4.70 level next,” he noted.

Because the crypto is currently holding above $4.30 despite Bitcoin’s current weakness, it does seem as though Chainlink’s strength will soon lead it significantly higher.

Featured image from Shutterstock.

Original article posted on the NewsBTC.com site, by Cole Petersen.

Article re-posted on Markethive by Jeffrey Sloe

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