chainlink – CetoEX News Inform Trends & Happenings

Chainlink Whales Buy $20 Million LINK in 7-days

Howdy — Wed, 14 Jun 2023 03:40:49 +0000

Cetoex News – The volatility in the crypto market has been rising of late. Even though the current levels are significantly lower than the highs registered in January and March this year, noteworthy progress has been made over the past few days. In fact, with a host of macro-economic related events lined up, the volatility is expected to further notch up this week.

Source: investing.com

Chainlink Volatility Oracles

Now, in such an environment, Chainlink has been working on volatility oracles. In a recent blogpost, it is highlighted that the demand for both realized and implied volatility datasets [RV, IV] is growing. Tapping on the same, the developer community has been working on two new product solutions, one for each type. They’re currently experimenting on various testnets.

The RV data, calculated by data providers, will be fetched by multiple Chainlink node operators in an Oracle network. After that, it will be combined into an aggregated Oracle report, and be published on-chain that can be used by DeFi applications.

For RV, there is usually reference data. However, that is not the case for IV, because it is usually based on predictions. In effect, there is no single calculation method. Since IV is a prediction of future volatility, Chainlink Functions will allow dApps to define their methodology. Further elaborating on Chainlink’s role in such a scenario, the blog post noted,

Chainlink Functions provides the ideal infrastructure solution, with dApps able to draw implied volatility data from as many or as few data providers as they desire, providing the ultimate discretion for their in-house calculations—all without having to deal with managing their own Oracle node infrastructure.

RV data is currently available on four blockchain testnets: Arbitrum Goerli, Avalanche Fuji, Ethereum Sepolia, and Polygon Mumbai. IV, on the other hand, can be accessed on three testnets: Avalanche Fuji, Ethereum Sepolia, and Polygon Mumbai. Thus, DeFi developers can now apply for beta access before the functions’ full release on the mainnet.

According to well-known Chainlink community member ‘ChainLinkGod’, this is a “very timely release.”

Finblox, LooksRare, Swift Working With Chainlink

SEC Seeks ‘Alternative Means’ to Serve Papers to Binance CEO CZ

Alongside volatility oracles, there are several other developments that have taken place within the Chainlink ecosystem. A recent report brought to light that crypto asset management firm Finblox is integrating U.S. Treasury Bills on Chainlink.

The company’s “superapp” will be tying up with OpenEden to bring a smart contract vault. That will provide 24/7 access to tokenized Treasury Bills. OpenEden’s Treasury Bill Vault, on its part, will be integrated with Chainlink. This will help provide on-chain proof that its tokens are backed by actual assets.

Parallelly, other platforms are also making use of Chainlink’s functionalities. For instance, NFT marketplace LooksRare recently integrated Chainlink’s Verifiable Random Function [VRF] on Ethereum to help it pick winners for its ‘Raffles’ in a fair manner.

Additionally, Chainlink has been working with Swift and a host of other major financial companies to test how they can connect with multiple networks. According to Chainlink, “These experiments are a significant step forward from the biggest financial players across the globe to #LinkTheWorld of traditional finance to blockchains.”

Investor Sentiment

Despite the macro market turmoil, Chainlink fundamentals have evidently not deteriorated. In fact, even whales seem to be on board. A recent analysis by Santiment revealed that LINK-related whale transactions [>$1 million] have spiked to a 7-month high, as the price dropped to a 3-year low of $5.00 this weekend. Chalking out the magnitude of accumulation, Santiment noted,

“Mid-sized 1K-100K LINK wallets are particularly accumulating big, with 3.9M LINK (worth $20.0M) accumulated in the past week.“

At press time, LINK was trading at $5.27, up 3% over the past day.

NEWS BY – CETOEX NEWS

Chainlink Developing Contributors Hit ‘All-Time High’

Howdy — Thu, 18 May 2023 02:43:32 +0000

Cetoex News – According to crypto analysis firm Santiment, Chainlink’s (LINK) developing contributors have reached an all-time high. Moreover, the firm noted that the project’s negative trend since March seems to be slowing down. However, not everything seems to be pointing in the right direction for LINK.

Although the negative trends seem to be slowing down, Chainlink’s (LINK) daily active addresses are almost “stationary.” Santiment highlighted the project’s stagnant network growth to support this claim.

Source: Santiment

In the price department, LINK has fallen from $8.57 on April 19 to $6.60 at press time. The drop represented a fall of 22.99% in less than a month. Santiment noted that almost all holders are currently sitting at a loss. This argument is also supported by data from IntoTheBlock, which stated that 77% of LINK holders are at a loss. Only 19% of LINK holders are currently at a profit. Therefore, selling right now would incur a big loss for holders. As per the data on Etherscan.io, the total number of LINK holders stands at 651,782, up by 0.005%.

Will Chainlink’s fate change anytime soon?

The only positive metric for LINK at the moment is its development activity. According to Santiment, the constant activity of developers is something investors should pay close attention to. Development on LINK seems to have been steadily increasing over time, currently at the highest levels.

Source: Santiment

Development is a solid metric to evaluate the long-term potential of a project. Therefore, Chainlink (LINK) seems to have that box checked. Moreover, the current financial outlook for the world is still poor. We are still on the leash of a bear market and are yet to overcome post-pandemic woes and the market crash of 2022. Hence, there is a potential for LINK to break out of its current slump.

LINK is currently facing resistance at $6.725, with support at $6.479. The asset’s price seems to be consolidating at current levels in the 4-hour chart. At press time, LINK was trading at $6.571, down by 1% in the last 24 hours.

NEWS BY – CETOEX NEWS

Shiba Inu Flips Chainlink to Become “Most Traded” Crypto

Howdy — Fri, 24 Mar 2023 03:26:28 +0000

credit – Crypto News Flash

Cetoex News – The week began on a bullish note and digital assets from the crypto market went on to flash green numbers. In fact, a host of top altcoins were trading in green yesterday, bringing to light the capital shuffling. In fact, whales from the ecosystem have also sprung into action. A recent tweet from WhaleStats revealed that Shiba Inu flipped Chainlink on Thursday, March 23, to become the “most traded” token among the top 100 Ethereum whales.

In fact, even when the horizon is widened to the top 2000 whales, Shiba Inu continues to be on the hot seat. At press time, the set of whales held $606 million worth of Shiba Inu in aggregate. However, that doesn’t mean that their portfolio was devoid of Chainlink. On Thursday, March 22, they possessed $149.4 million worth of LINK in total.

The latest “flippening aside,” Shiba Inu continues to overshadow Chainlink on the market cap front. Only back in 2021, the latter had an upper hand for a few months. However, towards the end of that year, the dynamics changed completely. Since then, SHIB has been in the driver’s seat. At press time, there was a $2.55 billion gap between their capitalizations.

Source: Sanbase

Shiba Inu, Chainlink price

The price charts of both assets seemed to depict interesting trends at press time. After creating their 2023 peaks, both assets initiated a downtrend. SHIB gradually lost value, while LINK steeply fell. On March 14, SHIB tested the downtrend line but failed to break out. As a result, the asset is currently down ~8% from the test level.

Chainlink, on the other hand, managed to successfully break above the bearish trendline on March 13. From that range, it has inclined by almost 12.5%. As shown below, it has been able to swiftly erase its losses and is currently mid-way to re-claim its 2023 highs.

SHIB/USDT, LINK/USDT by TradingView

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Top 3 Cryptocurrencies to Watch This Week: VET, ETH, LINK

Howdy — Mon, 27 Feb 2023 02:46:31 +0000

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credit – CNBC.com

Cetoex News – In February 2023, investors are brimming with hope and new expectations for positive returns on their investments. Despite losses in the previous year, some users remain optimistic that their particular cryptocurrency investments will rise or at least break even in 2023.

Notwithstanding analysts’ predictions that the markets will face hurdles this year, investors are keen to take advantage of the chances that exist. This article will concentrate on the top three cryptocurrencies to watch for the last week of February 2023.

Source: Forbes

Ethereum (ETH)

Ethereum, the second largest cryptocurrency by market cap, has performed relatively better in 2023. ETH has risen in value by over 34% in 2023. Ethereum has gone from a one-month low of $1,470 to a high of $1,732. However, it has fallen to a price of $1,602 at press time.

Source: CoinMarketCap

With the much-awaited Shanghai upgrade set to go live soon, there could be a spike in the value of ETH. However, if the market ends up in a green rally next week, the price of ETH could likely break the $1,700 resistance if the bulls favor it.

Source: VOI

VeChain (VET)

VeChain, one of the best-performing cryptocurrencies in 2023, saw a value increase of twofold since the start of January. As the network of cryptocurrency keeps growing, it is receiving a lot of positive attention.

Through an event called The HiVe, scheduled for March 4, 2023, the blockchain is expected to enter the Web3 and NFT arenas. Additionally, on Monday, VeChain released the VeWorld Wallet, its decentralized cryptocurrency wallet.

Source: CoinMarketCap

At press time, VeChain is trading at $0.0276 with a 2.15% hike in value over the last 24 hours. VET is up by 13.2% in the last 30 days and 75.13% up in the last 60 days.

Source: The Daily Hodl

Chainlink (LINK)

Earlier this week, there was a lot of social media buzz surrounding Chainlink’s cryptocurrency, LINK, following a post it shared about PoR. LINK, which is ranked at 20 by market cap globally, has performed decently over the last 60 days.

Source: CoinMarketCap

LINK is up by 28.35% in the last 60 days. It is trading at $7.35 at press time, with no major fluctuations in the last 24 hours. However, if the market is bracing itself for a rally next week, LINK could potentially go up.

NEWS BY – CETOEX NEWS

Chainlink Staking on Ethereum to Launch Next Week: What to expect?

Howdy — Sun, 11 Dec 2022 02:41:01 +0000

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Cetoex News – On Friday, Chainlink was one of the top weekly gainers. Post registering a double-digit incline of 13.3% in the said period, the token was trading above $7.6 at press time. The oracle network’s native token has managed to fetch investors gains at a time when the broader market conditions are storm-tossed.

Chainlink adoption seems to be going on quite steadily at this stage. Just over the past week, there were 12 integrations of five Chainlink services across four different chains [BNB Chain, Ethereum, Optimism, and Polygon].

Alongside, over the past day, new integrations across five chains took place.

Furthermore, Chainlink’s fundamental performance has also noted a boost of late. Outlining the same, a recent Delphi Digital tweet revealed,

“Last week, Chainlink had over 246K Verifiable Random Function (VRF) requests fulfilled, an increase of 259% over the week prior. The vast majority of this activity was on Polygon.“

Source: Delphi Digital

Chainlink Staking to Go Live on December 6

Staking (v0.1)—a core initiative of Chainlink Economics 2.0., is set to go live on the Ethereum mainnet next week on December 6. After two days, on December 8, the capped staking pool will open to general access. In fact, community members have already started the countdown for the same.

Staking v0.2, on its part, is now planned to launch in 9-12 months, at which point v0.1 stakers can unlock or migrate their stake LINK and rewards. Based on community and node feedback, development of staking will be more iterative with quicker release cycles. Chalking out the same, a recent thread on Twitter elucidated,

“As a result, the next version of Staking (v0.2) is now planned to launch in 9-12 months, at which point v0.1 stakers can unlock or migrate their staked LINK and rewards.”

Thus, as the v0.1 launch date nears and the hype builds up, community sentiment will get refined. That, along with the improving fundamentals like highlighted above, would likely aid LINK to organically commence another leg up.

NEWS BY – CETOEX NEWS

These 3 Coins Will Make You A Billionaire.

Howdy — Sun, 27 Nov 2022 02:47:02 +0000

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2022 is almost going to end but this year is not a good year for crypto users but we all want to make our profit in the market before the end of this year. Today we are going to tell you 7 coins which you should buy before this year. which might even make you a billionaire. Because these Coin’s events are going to happen at the end of this year.

#1 — THETA : – Because its event is coming on 1st December named Theta Network 2022. its current price is $0.9231. Theta’s Graph has fallen a lot in recent times, but before its Event, we can get to see a good moment in it.

credit – currency.com

#2 — Chainlink : – Because its event is also coming on 6st December named Staking VO.1 Launch 2022. its current price is $6.92. Link’s Graph has not fallen a lot in recent times, it grew a bit but before its Event, we can get to see a good moment in it.

credit – dreamtiome.com

#3 — EOS :- Many events of EOS coin are coming in this December like Yield+ Full Launch, Antelope IBC etc. we can get to see moment in this too. its current price is $0.9417. EOS’s Graph has fallen a lot in recent times,

credit – coingape.com

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All These Were Just Speculations But Invest At Your Own Risk.