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Samir 1

Chainlink price

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What is your assessment of LINK price? Are there any significant updates with the platform?

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Hi Samir, thanks for coming here.

Chainlink price gained more than 11% last month which is very good. Especially bearing in mind that in April gains stood at 60%. Usually, after a strong month, a dominant market force tents to take a pause and allow correction. Therefore, the buyers are in full control with LINK/USD.  

Looking fundamentally, the Chainlink platform announced a partnership with Kakao’s global public blockchain project Klaytn. The goal behind this partnership is to use Klaytn’s smart contracts as access to resources outside the blockchain to develop apps that are linked to real-world data and systems. 

“We look forward to providing the Klaytn ecosystem with secure and reliable oracles to enable the development of next-generation decentralized applications,” said Sergey Nazarov, the Co-Founder of Chainlink. 

“Klaytn can accelerate towards its goal of blockchain mass adoption with the addition of real-world connectivity made possible by Chainlink oracles,” he added.

In addition to the Klaytn partnership, Chainlink inked a deal with the cryptocurrency futures exchange Digitex Futures to fully incorporate its Price Reference Contracts (PRC) in a bid to offer precise price data and avoid fluctuations. 

“Using Chainlink price data enables us to deliver stronger security and performance guarantees to our users, furthering our vision to revolutionize futures trading,” Chief Executive and founder of Digitex Futures, Adam Todd said.

Therefore, the near future looks very positive for Chainlink. The platform is progressing well, which is reflected in the cryptocurrency market. LINK/USD is currently trading within an ascending parallel channel that is helping the price action to push higher.

The aim of the bulls is to take the price action towards $4.23, before the $4.69 mark can be tested. In case there is a pullback, the channel’s support around $3.85 will be there to offer demand for LINK.


 

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