- 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.
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.