Chainlink is a cryptocurrency that incentivizes a global network of computers to provide reliable, real-world data to smart contracts running on top of blockchains. Oracles in the Chainlink network are incentivised to provide accurate data. There is a reputation score assigned to each. When nodes follow the software’s rules and provide useful data, they are rewarded in Chainlink’s cryptocurrency, LINK. LINK uses the ERC-20 standard and is distributed as a reward to oracles who provide accurate data. Chainlink is built to be platform agnostic and connects cryptocurrencies and the banking segment.
The fastest, most convenient way to purchase Chainlink is to purchase it on ICONOMI. We check Chainlink live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Chainlink by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Chainlink is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Chainlink, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Chainlink in their structure.
Here you can read and comment on all posts made by Strategists about Chainlink LINK. See all Chainlink price predictions in real time and make the best use of their crypto knowledge.
Crypto Market Update: June 2024 Highlights
June was a turbulent month for the crypto market, with Bitcoin ($BTC) falling 23% to $54,211. Ethereum ($ETH) also declined to $2,897.97. Industry highlights include record Bitcoin ETF inflows, Polkadot’s $DOT fund management, and new Chainlink ($LINK) partnerships.
Explore our detailed market analysis and insights on our blog.
Read more HERE
The problem with sharing any TA is timing, can seem completely irrelevant at the time because it may take months to actually play out from when you see something. But that's the game. Hunt, search for the plays, be patient and persistent enough to get paid when they play out.
Like $LINK breaking a range, $ENS looks the same. Keep your eyes out and don't forget about what you find by switching off. The market is not going to wait for you or rush for you.
Chainlink: 5 Years of Innovation and What’s Next?
Chainlink has recently celebrated its 5th anniversary since the launch of its mainnet, marking a significant milestone for the project. Despite this achievement, the price of $LINK has faced a decline, dropping 11% in the past week to $15.49. Trading volume has also decreased by 12.8%. This dip has raised concerns among investors, but the long-term outlook for LINK remains promising due to several key developments and integrations.
Chainlink's recent integration with RealToken DAO is a major highlight. This development brings secure cross-chain interoperability to platforms like Ethereum, Gnosis, and Polygon. Such advancements are crucial for the growth of decentralised finance (DeFi), as they enhance the utility and accessibility of blockchain networks. Analysts are optimistic about Chainlink’s potential, with forecasts suggesting a surge to $26 by Q2 of 2024.
The concept of tokenizing real-world assets (RWAs) on Chainlink is gaining traction. RWAs, such as gold, real estate, and art, are being digitised, making them more accessible and transparent. This tokenization process bridges the gap between traditional finance (TradFi) and decentralised finance (DeFi), allowing for fractional ownership and increased liquidity. For instance, projects like RealT tokenize real estate, enabling investors to own shares of properties through ERC-20 tokens. Similarly, gold tokenization allows small-scale investments in precious metals, democratising access to valuable assets.
Despite the recent price decline, Chainlink’s fundamentals remain strong. LINK is trading above its 100 and 200-day EMAs, with nine technical indicators in the buy zone. However, traders should watch key support levels at $15.60 and $14.30 closely. A breach of these levels could signal further declines, but if support holds, LINK could rebound significantly.
In conclusion, Chainlink’s 5th anniversary underscores its growing influence in the blockchain space. With continued innovation and strategic integrations, Chainlink is well-positioned for future growth, offering exciting opportunities for investors and developers alike. As always, it’s crucial to stay informed and manage investments wisely in this dynamic market.
Another edition of CHAINLETTER hits the planet's inboxes. Entitled "Bitcoin Is Poised To Break Out Again" we tackle the most critical technical, on-chain, macro and crypto specific issues of the fortnight.
$BTC $NEAR $FET $AR $ETH $LINK
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