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HomeCrypto NewsAnalysisReasons Behind Chainlink (LINK) Price Making New All Time High

Reasons Behind Chainlink (LINK) Price Making New All Time High

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Chainlink (LINK) price achieved new highs increasing over $20 touching 22 USD. The price of LINK has risen by close to 30% in the last 24 hours. Chainlink is in the top 10 of the most valuable cryptocurrencies.

Read: Kraken Allow Buying Of Monero With A Debit Or Credit Card

Chainlink’s price today broke a record, rising from $16 to over $20. LINK’s market capitalization rose to $ 8.2 billion. Daily trading volume for Chainlink exceeded $ 3.7 billion. LINK’s price had hit a record high of over $19 in August 2020. LINK, which failed to sustain this performance in the second half of 2020, but picked up momentum again in the Dec 2020, making new all time high prices in Jan 2021. So, what developments triggered such fascinating price rise?


Read: Reasons Behind Polkadot (DOT) Price Making New Highs

Paxos Collaboration

Paxos, the digital financial institution that acts as a bridge between physical and digital assets, has announced a partnership with Chainlink to make its asset-backed tokens more widely available in the DeFi space. Paxos-backed stable coin, PAX and Paxos tokenized Gold (PAXG) became part of the Chainlink oracle network through this partnership.

Read: Declining Ethereum Reserves On Exchanges-You Know What Happen Next?

Support for Cryptex’s Cryptocurrency TCAP

Cryptex has announced the launch of TCAP, which is the world’s first total market cap token. TCAP, which is in the Testnet phase, announced that it is supported by Chainlink Oracle. TCAP is being launched as a token offering access to the entire cryptocurrency sector with a single solution. TCAP announced that it is happy to cooperate within the framework of Chainlink’s decentralized, independent and reliable services.

Huobi ECO-Chain Integration

According to the announcement earlier this month, Chainlink will be integrated into Huobi ECO-Chain (HECO) as an oracle solution. Integration will start at HECO and focus on providing Link price information to DeFi applications. In addition, various Chainlink oracle services will be developed under this partnership, including NFT creation and VRF (Verifiable Randomness Function) Service.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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